Thailand's TMB Bank delays early tender date for perpetual securities

By Marisa Wong

Madison, Wis., Sept. 24 - TMB Bank PCL extended the early tender deadline in the cash tender offer for its $200 million perpetual non-cumulative tier 1 securities.

The early tender deadline was pushed back to 7 a.m. ET on Oct. 4. from Sept. 21.

The offer began on Sept. 6 and will expire at 7 a.m. ET on Oct. 4.

TMB is also asking holders to approve amendments to the terms of the securities, adding an issuer call on May 3, 2011 at par. Those who tender will be deemed to have submitted consent.

As of 7 a.m. ET on Sept. 21, the bank received tenders from holders of $15.8 million of the securities.

As previously reported, the tender price will be set using a Dutch auction procedure. Holders may tender their securities at $1,040 to $1,080 per $1,000 principal amount.

Holders will also receive accrued distributions.

J.P. Morgan Securities Ltd. is the dealer manager.

TMB is a state-controlled bank based in Bangkok.

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