Thailand's TMB Bank starts Dutch tender offer for up to $100 million perpetual securities

By Susanna Moon

Chicago, April 17 - TMB Bank PCL said it began a tender offer for up to $100 million of its $200 million perpetual non-cumulative tier 1 securities.

Pricing will be determined by a modified Dutch auction procedure.

The offer will expire at 8 a.m. ET on April 29.

The state-controlled Bangkok-based bank said it will pay accrued interest to the settlement date, which is expected to be May 6.

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