Thai banks sell fresh Lao bonds

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Buddha ParkLaos is stepping up its bond selling programme and has appointed Thailand’s TMB Bank and Bangkok Bank to sell a new lot of Laotian government bonds in baht to large and institutional investors in Thailand.

The unrated bonds are worth 3 billion baht ($95 million) and mature in either three or five years’ time. They will be available to buy on November 29, December 2 and December 3 for a minimum investment of 500,000 baht ($15,870). Interest will be paid every six months on the bonds, which carry a coupon rate of 4.60-4.70 per Cent per annum for three-year maturity and 5.10-5.20 per cent for five-year maturity.

Jarin Pintusopon, executive vice president of TMB Bank, said his bank sold the first lot of Laotian government bonds worth 1.5-billion-baht ($47.5 million) in May. He said the success of the sale far exceeded expectations, with more than double the number of investors applying than available bonds. Jarin also said the new lot will offer an alternative investment option for Thai investors that want high returns and seeking to diversify their risks.

It is the first time that Lao has offered five-year bonds in Thailand. Its government wants long-term funding for infrastructure investment and developing its hydropower and mining in the country.

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Reading Time: 1 minute

Laos is stepping up its bond selling programme and has appointed Thailand’s TMB Bank and Bangkok Bank to sell a new lot of Laotian government bonds in baht to large and institutional investors in Thailand.

Reading Time: 1 minute

Buddha ParkLaos is stepping up its bond selling programme and has appointed Thailand’s TMB Bank and Bangkok Bank to sell a new lot of Laotian government bonds in baht to large and institutional investors in Thailand.

The unrated bonds are worth 3 billion baht ($95 million) and mature in either three or five years’ time. They will be available to buy on November 29, December 2 and December 3 for a minimum investment of 500,000 baht ($15,870). Interest will be paid every six months on the bonds, which carry a coupon rate of 4.60-4.70 per Cent per annum for three-year maturity and 5.10-5.20 per cent for five-year maturity.

Jarin Pintusopon, executive vice president of TMB Bank, said his bank sold the first lot of Laotian government bonds worth 1.5-billion-baht ($47.5 million) in May. He said the success of the sale far exceeded expectations, with more than double the number of investors applying than available bonds. Jarin also said the new lot will offer an alternative investment option for Thai investors that want high returns and seeking to diversify their risks.

It is the first time that Lao has offered five-year bonds in Thailand. Its government wants long-term funding for infrastructure investment and developing its hydropower and mining in the country.

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