By Christine Van Dusen
Atlanta, Oct. 13 - Bangkok Bank PCL priced a $1.2 billion two-tranche offering of notes due 2015 and 2020 (A3/BBB+/), a market source said.
The bank sold $400 million 3¼% notes due Oct. 18, 2015 at 99.835 to yield 3.286%, or Treasuries plus 212.5 basis points. Price talk was set at the Treasuries plus 220 bps area.
Bangkok Bank priced $800 million 4.8% notes due Oct. 18, 2020 at 99.576 to yield 4.854%, or Treasuries plus 237.5 bps. Price talk was set at the Treasuries plus 245 bps area.
Both tranches include a make-whole call at 50 bps.
Morgan Stanley was the bookrunner for the Rule 144A transaction.
Bangkok Bank is a commercial lender based in Thailand.
| Issuer: | Bangkok Bank PCL
|
| Amount: | $1.2 billion
|
| Description: | Senior notes
|
| Bookrunner: | Morgan Stanley
|
| Trade date: | Oct. 13
|
| Settlement date: | Oct. 18
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Distribution: | Rule 144A
|
|
|
| Notes due 2015
|
| Amount: | $400 million
|
| Maturity: | Oct. 18, 2015
|
| Coupon: | 3¼%
|
| Price: | 99.835
|
| Yield: | 3.286%
|
| Spread: | Treasuries plus 212.5 bps
|
| Price talk: | Treasuries plus 220 bps area
|
| Call feature: | Make-whole call at 50 bps
|
|
|
| Notes due 2020
|
| Amount: | $800 million
|
| Maturity: | Oct. 18, 2020
|
| Coupon: | 4.8%
|
| Price: | 99.576
|
| Yield: | 4.854%
|
| Spread: | Treasuries plus 237.5 bps
|
| Price talk: | Treasuries plus 245 bps area
|
| Call feature: | Make-whole call at 50 bps
|
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