Kasikornbank Launches $800m US Dollar Bond Sale

Kasikornbank, one of Thailand's largest commercial banks, has launched an $800 million sale of US dollar Tier 2 subordinated bonds. The bonds will have a 10-year maturity and can be repaid early after five years, subject to regulatory approval.

The Tier 2 bonds were priced at 173 basis points over US Treasuries, which is tighter than the initial guidance of about 205 basis points. This means investors are getting a slightly better deal on these bonds compared to what was initially offered.

The proceeds from this sale will be used for general corporate purposes. Kasikornbank has appointed BNP Paribas, Citigroup, JPMorgan, and Standard Chartered Bank as joint lead managers and bookrunners.