Bangkok Bank plc

The Kingdom of Thailand pulled off a novel sustainability bond in the domestic debt market on Thursday, hitting the upper end of its Bt30bn ($965m) size target and getting away with tight pricing.

Thai hospitality company Minor International (Mint) used a guarantee from Bangkok Bank to issue a $300m bond this week. The deal structure, which echoes its 2018 debut bond, helped quell investor concerns about how Covid-19 has ravaged the borrower’s business. Morgan Davis reports.

Strong demand for Bangkok Bank’s dollar-denominated Basel III-compliant tier two transaction allowed Thailand’s largest lender to sell a bigger deal at a tighter price than expected, writes Addison Gong.

Bangkok Capital Asset Management (BCAP) has become the latest firm to sign up to the Depository Trust & Clearing Corporation’s (DTCC) Central Trade Manager (CTM) platform.

Yoma Strategic Holdings has become the first company from Myanmar to sell an international bond, raising the equivalent of $70m in the Thai baht market.

Thai hotel operator Minor International had to get creative with its debut $300m bond, owing to its lack of rating and inaugural status. It looked abroad for inspiration, ultimately opting for a South Korean-inspired structure. Morgan Davis reports.

An extensive global roadshow paid off for Bangkok Bank’s dual-tranche $1.2bn outing on Wednesday, with a strong turnout from accounts in the US as well as Asia.

Digital Telecommunication Infrastructure Fund has raised Bt53.2bn ($1.7bn) after pricing a sale of new units at the top of guidance, according to a banker on the deal.

Bangkok Bank has sold a chunk of its stock in Jasmine Broadband Internet Infrastructure Fund, raising Bt4.4bn ($140.7m) after boosting the size of the trade.

The Lao People’s Democratic Republic, through the Ministry of Finance, raised Bt14bn ($420m) this week from a six-tranche bond in Thailand — its largest ever print. The sovereign also managed to push out its curve to an unprecedented 15 years, leveraging on Thai investors’ familiarity with its credit.

Lao People’s Democratic Republic is taking bids for a six-tranche Thai baht bond this week, and is hoping to settle the Bt14bn ($420m) transaction on Thursday.

Thai department store operator Central Group is understood to have enlisted two lenders for a loan of about $1bn to back its acquisition of Big C Vietnam.