TMBThanachart accepts tenders for $58.40 million 4.9% perpetuals

By Marisa Wong

Los Angeles, Aug. 21 – TMBThanachart Bank PCL announced results and pricing of its Aug. 10 invitation to holders of its $245,667,000 outstanding 4.9% perpetual additional tier 1 capital securities (ISIN: XS2084378798) to tender their notes for purchase for cash, up to a maximum acceptance amount of $60 million.

As of the expiration of the offer at 11 a.m. ET on Aug. 18, holders had tendered $58,404,000 of the notes. The company accepted all of the tendered notes for purchase with no proration applied, according to a notice on Monday.

The issuer will purchase the securities at $970 per $1,000 principal amount. Holders will also receive accrued interest of $10.88889 per $1,000 principal amount.

Settlement will be on Aug. 22.

After settlement, $187,263,000 of the notes will remain outstanding.

Hongkong and Shanghai Banking Corp. Ltd. (+852 3941 0223 / +44 20 7992 6237; liability.management@hsbcib.com) is acting as the dealer manager.

Kroll Issuer Services Ltd. (+852 2281 0114 / +44 20 7704 0880; attn.: Mu-yen Lo / Illia Vyshenskyi; ttb@is.kroll.com) is the tender and information agent.

The bank is based in Bangkok.

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