SCB eyes another Bt20bn from subordinated debentures
Siam Commercial Bank is targeting Bt20 billion worth of a new batch of subordinated debentures.
In February, SCB successfully raised Bt20 billion through 10-year subordinated debentures.
The debentures, to be sold through its branch network during Sept 5-14, carry 12 years of maturity and interest rate of 4.65 per cent per annum, payable every three months. Minimum investment is Bt100,000. The bank maintains the call option at the end of the 7th year. The issue is rated "AA-" by Fitch Ratings (Thailand).
SCB President Kannikar Chalitaporn said that this issue is to further strengthen the bank’s tier-2 capital, to support future lending activity. She is convinced that the issue would receive overwhelming interest from investors, looking for long-term gains.
