With a transaction size of THB 1 billion, the floating rate notes are name-registered, unsubordinated and unsecured, without Bondholder Representative. The notes were offered to institutional investors, have a tenor of 185 days and an interest of +0.1 per cent of the compounded THOR.
Ms Chintana Kittiviboolmas, Executive Director, Country Head of Global Markets, UOB Thailand, said, "UOB Thailand is committed to support Thailand's transition to THOR in line with the Bank of Thailand's policy to shift to the new interest rate benchmark. This year to date, we have completed various interbank THOR-linked transactions in areas including money market lending, overnight index swap and repurchase agreements. Our THOR-linked note offering is our latest effort in contributing to the development of Thailand's THOR-based bond and money markets."
UOB Thailand's floating rate notes are issued under the Bank's THB25 billion two-year medium-term note programme, which has been authorised by the Office of the Securities and Exchange Commission.
With a strong presence in the country, UOB Thailand is a subsidiary of Singapore's United Overseas Bank Limited, a leading regional bank. UOB Thailand is recognised by top international and national credit rating agencies as a strong bank, with ratings including A3 for Long-term Bank Deposits by Moody's Investors Service, A- for Long-term Foreign Currency and the highest AAA(tha) for Long-term National Rating by Fitch Ratings.
Source: PR One Network