Business Services Industry
Thailand Credit Card Firm's Bond Issue Oversubscribed.
Knight Ridder/Tribune Business News, April, 2003
By Darana Chudasri, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Apr. 4--Krungthai Card's new debenture issue was 2.5 times oversubscribed, according to underwriters.
KTC yesterday announced it had successfully issued five billion baht worth of three-year senior debentures with a coupon rate of 2.75 percent.
The debentures, rated A- by Tris Ratings, are being underwritten by SG Asia Credit Securities.
Ek-Anong Phanachet, head of debt capital markets at SG Asia Credit Securities, said demand came from banks, mutual and provident funds and insurers.
Proceeds of the issue will be used by KTC to refinance existing debt and expand retail lending operations. The company expects to save as much as 87.5...
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