USD 300 million. Senior Unsecured Reg S Notes due October 2021 (the "Notes").

Thursday 24 March 2016 16:42
TMB Bank Public Company Limited ("TMB Bank") has priced their debut US dollar denominated Notes on March 23, 2016. The Notes are issued by TMB Bank acting through its Cayman Islands branch. TMB Bank is rated Baa2 by Moody's, BBB- by S&P and BBB- by Fitch.

This transaction represents a significant milestone of TMB Bank based on the following aspects:

- The first senior US dollar bond issued by TMB Bank

- First US dollar bond issuance from a Thai bank since 2014

The Notes were priced at 170 basis points over the 5 year US Treasury Note. They were priced to yield 3.108%. The Notes will be denominated in US dollars, and will bear a coupon of 3.108% per annum.

The distribution of these bonds by geography was 82% to Asian investors and 18% to European investors. By investor type the bonds were distributed as follows: 69% to fund managers, 12% to banks, 11% to insurance, and 8% to private banks.

Mr. Boontuck Wungcharoen, CEO of TMB Bank, commented, "The strategy that we have followed over the past years has resulted in a strong credit profile and we are pleased to see the international investor community endorse this via our successful US dollar debut transaction. It is the first time that we enter the markets for a senior bond transaction in US dollar and is pleased to have reopened the international bond markets for Thai borrowers".

HSBC, ING, and Standard Chartered Bank acted as Joint Bookrunners and Joint Lead Managers.