Thai Baht Exchange Rate - USD$ Bonds Being Issued

[Banana7]

Looks like Thai baht is going to stay very strong against major currencies with huge amounts of inbound foreign currency.

 

In October 2020 Bank of Thailand (BOT) issued USD$1.6 billion of government savings bonds using IBM block chain technology.

Reported here: https://finance.yahoo.com/news/thailand-central-bank-issues-1-120512675.html

 

Also, Bangkok Bank issued USD$750 million bonds and Kasikorn Bank issued USD$500 million in bonds both in October 2020.

 

Maybe other Thai banks and asset managers will issuing more bonds/debt instruments to get more capital replacing all the non-performing loans.

 

BOT is not reporting publicly Thailand commercial bank NPLs for 2020. Last report was for Dec. 2019, see here

https://www.bot.or.th/App/BTWS_STAT/statistics/BOTWEBSTAT.aspx?reportID=428&language=eng

 

Sounds like bad news!

 

[Barnabe]

If I recall correctly in 2018 the BoT cleared all the foreign debt denominated in USD and from then on would only issue THB denominated debt.

 

The article you linked is not clear - was the debt issued in USD or those $1.6 billion are denominated in THB?

If the former then this is surely a very stupid move...

[Banana7]

7 minutes ago, Barnabe said:

If I recall correctly in 2018 the BoT cleared all the foreign debt denominated in USD and from then on would only issue THB denominated debt.

 

The article you linked is not clear - was the debt issued in USD or those $1.6 billion are denominated in THB?

If the former then this is surely a very stupid move...

You'll have to do your own research, but I can confirm Bangkok Bank bonds

September 16, 2020

Bangkok Bank issued international bonds (USY06072AD75) for USD 750.0m. Bonds were sold at a price of 100%. Depository: Clearstream Banking S.A., DTCC, Euroclear Bank Bookrunner: Citigroup, Morgan Stanley, JP Morgan. Kasikorn Bank bonds went on sale 14 Octoober 2020, underwriter is Citibank at 5.275% in USD.

[ExpatOilWorker]

7 minutes ago, Banana7 said:

You'll have to do your own research, but I can confirm Bangkok Bank bonds

September 16, 2020

Bangkok Bank issued international bonds (USY06072AD75) for USD 750.0m. Bonds were sold at a price of 100%. Depository: Clearstream Banking S.A., DTCC, Euroclear Bank Bookrunner: Citigroup, Morgan Stanley, JP Morgan. Kasikorn Bank bonds went on sale 14 Octoober 2020, underwriter is Citibank at 5.275% in USD.

Do you have the ISIN number for the Kasikorn bonds?

What exchange are they traded at?

 

 

 

 

 

 

[Banana7]

12 minutes ago, ExpatOilWorker said:

Do you have the ISIN number for the Kasikorn bonds?

What exchange are they traded at?

 

 

 

 

 

 

Please get your broker to contact Citigroup for new issues. Today, October 14, 2020 is the first day of the sale, and it's still about 11:15 in New York as I write this.