Banking
Thailand issues 50-year government bonds
Thailand’s Finance Ministry has for the first time issued 50-year government bonds, the ministry’s longest duration maturity ever, with an interest rate of 4.85 per cent, according to Finance Minister Korn Chatikavanij.
Thailand’s Finance Ministry has for the first time issued 50-year government bonds, the ministry’s longest duration maturity ever, with an interest rate of 4.85 per cent, according to Finance Minister Korn Chatikavanij.
Mr Korn said the auctions reached Bt3.5 billion in total, while investors bid for the bonds at a volume as high as Bt6.3 billion, or about 1.8 times more than the budget the ministry is seeking.
Two groups of investors interested in the bidding were institutional buyers, counting about 37 per cent of the amount proposed in the bidding. The other group were life insurance companies, accounting for around 63 per cent.
The finance minister said the event was successful. This bond issue has made Thailand the world’s fourth country to produce 50-year government bonds, following the United Kingdom, France and China respectively.
According to Mr Korn, the ministry is planning two more auctions of Bt3-4 billion each in the April-June and the July-September quarters. (MCOT online news)
via Finance Ministry issues Thailand’s 1st 50-year government bonds.
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