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Export-Import Bank of Thailand adjourns meeting for two series of notes
By Mary-Katherine Stinson
Lexington, Ky., Feb. 21 – The Export-Import Bank of Thailand adjourned the meetings for the noteholders of its $300 million floating-rate notes due 2023 comprised in series 001 (ISIN: XS1910821682) and its $300 million floating-rate notes due 2024 comprised in series 003 to March 7, according to a notice.
The adjourned meeting will convene via teleconference at 9 p.m. ET for the series 001 notes, with the series 003 meeting to follow.
Noteholders must submit consent instructions by 11 a.m. ET on March 3. Consent instructions previously submitted remain in effect.
The consent solicitation was originally launched Jan. 30 for the purpose of transitioning the benchmark interest rate to SOFR with an applicable reference rate adjustment and margin beginning on or after the interest payment date in August for each series of notes. The current interest rate is based on Libor.
New fallback provisions are to be included in case the applicable SOFR reference rate is not available when required.
No consent or participation fee will be payable in connection with the consent solicitation.
To be passed at the relevant adjourned meeting, the extraordinary resolutions require a majority of at least three-fourths of the votes cast voting in favor.
If passed, the implementation date is slated for March 9.
HSBC Ltd., Singapore Branch (hsbcdcmsg@hsbc.com.sg), Mizuho Securities Asia Ltd. (AS_DCM@hk.mizuho-sc.com) and Standard Chartered Bank (Singapore) Ltd. (DCM.Singapore@sc.com) are the solicitation agents.
Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130, exim@investor.morrowsodali.com, https://projects.morrowsodali.com/exim) is the information and tabulation agent.
The financial institution is based in Bangkok.
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