This transaction is significant on several accounts: this is the first US$ bond issuance out of Thailand in 2017, and it was oversubscribed almost three times during book building with strong support from investors in Asia and Europe.
SCB will apply the net proceeds to meet the funding requirements of the Bank and its foreign branches and for general corporate purposes. This latest notes issuance is considered a further success from the last issuance in 2014.
Well accepted by a wide-range of foreign investors in both Asia and Europe, the notes were distributed to high quality fixed income accounts: 65% to fund managers, 24% to banks, 5% to public institutions, 4% to insurance companies, and 2% to private banks. Barclays Bank and Deutsche Bank acted as lead managers for this issuance.