, Thailand

Thailand's Tisco Bank to issue $2B foreign currency debentures

Tisco Bank plans to issue a foreign-currency unsubordinated debenture with two to three years' maturity.

Oranuch Apisaksirikul, CEO of Tisco Financial Group, the holding company of Tisco Bank, said the bank proposed the notes with maturity of no more than 10 years to secure lower costs of funds.

She added that the bank would issue the senior notes with short-to-medium maturity, expected to be two to three years, and the period of issuance would be considered again.

She said the prospect of lower interest rates staying in the market for at least a few years was high because of the euro-zone debt crisis and uncertainty over the US economy.

The need for lower cost was a primary factor for the bank's decision to issue foreign-currency senior unsecured notes rather than baht-denominated notes.

The funds from the notes will be used to serve local customers, because even though they will be issued in a foreign currency, the funds raised will be converted to baht, while the overall cost will be lower than an unsub-debt issuance in terms of Thai baht, she explained.

For more

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Investment Asia in your inbox
On back of a modest increase in US interest rates.
As Asian hedge funds outperformed peers.
Here's what boosted this growth.
Lousy start for 2014, says analyst.
Santa is on his sleigh and the elves won't be back until Jan 6.
Reforms to be implemented by 2020.
It's the lowest annual level since 2009.
Is it finally recovering?