Thailand gives go-ahead to three foreign banks to issue in Thai market

By Angela McDaniels

Tacoma, Wash., Oct. 6 - Central American Bank for Economic Integration, ING Bank NV and Export-Import Bank of Korea received approval from Thailand's Ministry of Finance to issue Thai baht-denominated bonds in the Thai bond market, according to a notice from the Bond Market Development Bureau.

The three banks have until March 31 to issue their bonds.

Central American Bank for Economic Integration applied to issue 4 billion baht of bonds. The development bank is based in Tegucigalpa, Honduras.

ING Bank applied to issue 10 billion baht of bonds. It is a financial services company based in Amsterdam.

Export-Import Bank of Korea applied to issue 8 billion baht of bonds. The lender is based in Seoul, South Korea.

The Ministry of Finance accepts applications to issue bonds from foreign entities in February, May, August and November of each year.

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