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)
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The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.(more…)
S&P maintains Thailand’s credit rating at BBB+ with stable outlook
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