BANGKOK, Sept 9 (Reuters) - Krung Thai Bank, Thailand's second-largest lender, plans to sell up to 13 billion baht ($383 million) of subordinated bonds in October, it said in a filing with the Thai stock regulator on Wednesday.
The bonds, with a maturity of 10 years, would be sold to both institutional investors and the public, it said.
Up to 10 billion baht would be offered to existing holders of its bonds maturing in 2014, the statement said. The bank said it had the right to redeem the debt before maturity.
The proceed would be used to refinance existing debt and to provide working capital.
Coupons would be decided later this month, a bank official close to the deal said.
Benchmark 10-year government bonds were yielding 3.76 percent in the secondary market at 0603 GMT.
In February, the bank issued 21 billion baht of bonds to boost its capital base and secure long-term funding, with a coupon of 5.00 percent for the first five years and 6.50 percent for the remaining years.
($1=33.99 Baht)
(Reporting by Arada Kultawanich; Editing by Alan Raybould)
((arada.kultawanich@thomsonreuters.com; +662 648 9732, Reuters Messaging: arada.kultawanich.reuters.com@reuters.net)) Keywords: KTB BONDS/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The bonds, with a maturity of 10 years, would be sold to both institutional investors and the public, it said.
Up to 10 billion baht would be offered to existing holders of its bonds maturing in 2014, the statement said. The bank said it had the right to redeem the debt before maturity.
The proceed would be used to refinance existing debt and to provide working capital.
Coupons would be decided later this month, a bank official close to the deal said.
Benchmark 10-year government bonds were yielding 3.76 percent in the secondary market at 0603 GMT.
In February, the bank issued 21 billion baht of bonds to boost its capital base and secure long-term funding, with a coupon of 5.00 percent for the first five years and 6.50 percent for the remaining years.
($1=33.99 Baht)
(Reporting by Arada Kultawanich; Editing by Alan Raybould)
((arada.kultawanich@thomsonreuters.com; +662 648 9732, Reuters Messaging: arada.kultawanich.reuters.com@reuters.net)) Keywords: KTB BONDS/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.