The proposed tenor for the notes is five and a half years and they will be issued out of TMB's Cayman Islands branch, with proceeds to be used for general corporate purposes, including meeting funding requirements of the bank.
The final rating is subject to the receipt of final documentation conforming to information already received.
KEY RATING DRIVERS
The notes are rated at the same level as TMB's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'BBB-', representing the unsecured and unsubordinated obligations of the bank.
RATING SENSITIVITIES
The rating on the senior unsecured notes would be directly impacted by any changes in the bank's IDR.
For further details on TMB's key rating drivers and rating sensitivities, refer to the rating action commentary "Fitch Affirms Thailand's Mid-Sized Banks" dated 6 November 2015 and available at www.fitchratings.com.
The other ratings of TMB are unaffected by this action, and are as follows:
Long-Term IDR: 'BBB-'; Outlook Stable
Short-Term IDR: 'F3'
Viability Rating: 'bbb-'
Support Rating: '3'
Support Rating Floor: 'BB+'
National Long-Term Rating: 'A+(tha)'; Outlook Stable
National Short-Term Rating: 'F1(tha)'
Long-term foreign-currency senior unsecured debt: 'BBB-'
Basel III Tier 2 subordinated debt rating: 'A(tha)'
Legacy Basel II subordinated debt rating: 'A(tha)'