New Issue: Thai Military Bank sells $300 million 3.1% 5½-year notes at 170 bps over Treasuries

By Christine Van Dusen

Atlanta, March 23 – Thai Military Bank sold $300 million notes due Oct. 1, 2021 (expected ratings: Baa2/BBB-/BBB-) at par to yield 3.1%, or Treasuries plus 170 basis points, on Wednesday, a market source said.

The notes were talked at a spread of 170 bps to 175 bps.

HSBC, ING and Standard Chartered Bank were the bookrunners for the Regulation S deal.

The lender is based in Bangkok.

Issuer:	Thai Military Bank
Amount:	$300 million
Maturity:	Oct. 1, 2021
Description:	Notes
Bookrunners:	HSBC, ING, Standard Chartered Bank
Coupon:	3.1%
Price:	Par
Yield:	3.1%
Spread:	Treasuries plus 170 bps
Trade date:	March 23
Settlement date:	April 1
Expected ratings:	Moody's: Baa2
	Standard & Poor's: BBB-
	Fitch: BBB-
Distribution:	Regulation S
Price talk:	Treasuries plus 170 bps to 175 bps

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