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Discuss this article (2 Comments)EBI plans $57m Thai bond
by Reuters on Thursday, 29 March 2007
Emirates Bank International plans to issue 2 billion baht ($57 million) of baht-denominated bonds next week, three fund managers close to deal said on Thursday.
The bonds, the bank's first issue in Thailand, would have a maturity of 7 years and be offered to institutional investors, they told Reuters.
Benchmark seven-year government bonds were yielding 4.10% at 0528 GMT, while the average corporate spread over government bodns for "AA" rated bonds of more than five years was 99 basis points on Wednesday.
The Dubai-based bank is rated "A1" by Moody's Investors Service and "A" by Standard & Poors, the fund managers said.
Standard Chartered Bank (Thai) would underwrite the issue, they said.
READERS' COMMENTS
CORRECTION
Posted by Editor, ArabianBusiness.com, Dubai, UAE on Friday 30 March 2007 at 10:36 UAE time
The article above originally had the headline "EBI plans $57bn Thai bond", which was incorrect. The bond is actually worth $57m and the headline has been amended to reflect this. Apologies for the error.
Posted by Editor, ArabianBusiness.com, Dubai, UAE on Friday 30 March 2007 at 10:36 UAE time
The article above originally had the headline "EBI plans $57bn Thai bond", which was incorrect. The bond is actually worth $57m and the headline has been amended to reflect this. Apologies for the error.
Billion !
Posted by soni on Thursday 29 March 2007 at 22:48 UAE time
It's 57Million and not Billion as you report
Posted by soni on Thursday 29 March 2007 at 22:48 UAE time
It's 57Million and not Billion as you report
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