Subject: Notification of Issuance and Offering of Subordinated Notes to Overseas Investors

Wednesday 11 August 2021 09:35
KASIKORNBANK PUBLIC COMPANY LIMITED (the "Bank") would like to inform you of the issuance and offering of financial instruments intended to qualify as additional tier 1 capital of the Bank namely "U.S.$350,000,000 Additional Tier 1 Subordinated Notes" (the "Instruments") under the U.S.$4,000,000,000 Euro Medium Term Note Programme of the Bank on August 10, 2021. The objective of the issuance of the Instruments is to optimize the Bank's capital structure in order to support the Bank's future business expansion. Furthermore, the current market condition provides a market window for the Bank to issue the Instruments. In this regard, the Bank's capital fund will remain secure and sufficient for the Bank's continuous business operation.

Key details of the Instruments are, as follows:
Issuer: KASIKORNBANK PUBLIC COMPANY LIMITED (acting through its Hong Kong branch)
Type of debentures: Subordinated financial instruments without a representative of the noteholders, intended to qualify as Additional Tier 1 capital pursuant to requirements of the Bank of Thailand and capable of loss absorption subject to the prescribed terms and conditions
Tenor: No fixed redemption date (Perpetual)
Interest rate: Fixed distribution rate of 4 percent per annum, payable semi-annually, which resets every 5 year
Issue date: August 10, 2021
Call date: The Bank may redeem the Instruments on February 10, 2027 and every Distribution Payment Date thereafter, subject to the Bank of Thailand's approval
Total issue amount: U.S.$350,000,000
Credit rating: Ba1 by Moody's
Offer for sale to: Overseas Institutional Investors

This document is not an offer to purchase or sell, or solicitation of an offer to purchase or sell securities in the United States. The securities referred to herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Bank does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States. Nothing in this document constitutes an offer, sale or solicitation of an offer to purchase or sell of bonds, notes or any securities in Thailand or any jurisdiction where it is unlawful to do so.

The rating, as above, is not a recommendation to buy, sell or hold the securities and may be subject to suspension, reduction or withdrawal at any time by the rating agency.

The approval has been granted by the Office of the Securities and Exchange Commission of Thailand to the Bank to issue and offer the Instruments pursuant to the notification of the Capital Market Supervisory Board regarding rules, conditions, and procedures on the application for and approval of the offering for sale of newly-issued notes to overseas investors. The Instruments must be offered or sold to investors outside Thailand only, and the Instruments must not be offered, sold or transferred in Thailand. The Banks does not allow any distribution, supply or use of this announcement or any information contained herein in connection with any offer for subscription for, or sale of, the Instruments or other securities to any person in Thailand.

Please be informed accordingly

Source: KASIKORNBANK