By Rebecca Melvin
New York, Feb. 11 – Siam Commercial Bank PCL has priced $1 billion of notes in two tranches due 2024 and 2029 (BBB+/BBB+), according to a market source.
The $500 million of notes due 2024 priced with a 3.9% coupon.
The $500 million of notes due 2029 priced with a coupon of 4.4%.
Barclays Bank plc, HSBC and J.P. Morgan Securities plc were the bookrunners for the Regulation S deal.
The issue was made under a $3.5 billion medium-term note program by the bank’s Cayman Islands branch.
The proceeds will be used for general corporate and funding purposes.
The issuer is a Bangkok-based lender.
| Issuer: | Siam Commercial Bank PCL
|
| Amount: | $1 billion
|
| Bookrunners: | Barclays Bank plc, HSBC and J.P. Morgan Securities plc
|
| Listing date: | Feb. 11
|
| Expected ratings: | S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | Regulation S
|
|
|
| 2024 notes
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| Amount: | $500 million
|
| Maturity: | 2024
|
| Coupon: | 3.9%
|
|
|
| 2029 notes
|
| Amount: | $500 million
|
| Maturity: | 2029
|
| Coupon: | 4.4%
|
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