Government’s special savings bonds worth ฿30bn sell out in two days

[snoop1130]

Director of the Public Debt Management Office Patricia Mongkhonvanit

 

The Thai Government’s special savings bonds, for people aged 60 and above, sold like hot cake as the 30 billion baht worth sold out in two days when they went on sale on Monday, according to Director of the Public Debt Management Office Patricia Mongkhonvanit.

 

The special savings bonds were sold online and via the mobile banking platforms of four commercial banks. 27 billion baht worth of bonds were sold on Monday alone, while the remaining 3 billion baht was sold yesterday (Tuesday).

 

She said that the online investment is a good sign that people are adjusting the way they are conducting financial transactions using technology, at a time when the country is battling a pandemic.

 

Full Story: https://www.thaipbsworld.com/governments-special-savings-bonds-worth-฿30bn-sell-out-in-two-days/

 

-- © Copyright Thai PBS 2022-01-19

 

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[smedly]

sounds to me like a money laundering scam - government sells bonds - government top team buys them - I hope international regulaters take a really good look at this

[mvdf]

Glorified crypto scheme. 

[jacko45k]

Are they being sold at the Kasikorn?

[new2here]

I guess i could see why this kind of bond might sell fast at the retail level.

 

Thailand’s sovereign rating appears to be BBB+ which puts it well within the “investment grade” class … and it appears to be a “General Obligation” or GO type, which then means the government has nearly unilateral ability to tax or raise fees to cover said debt (as opposed to special purpose bonds whose repayment funds might be restricted to one or a handful of sources.

 

Based on what the BoTs website shows, it looks like the bonds priced at a yield of around 1.59 or so..

 

To me, in THIS overall interest rate market, 1.6 yield to maturity, on a investment grade GO-types bond seems to be quite good for people on the fixed income market. 

[Chris.B]

What is the interest rate for these?

 

[Will B Good]

What is the coupon value?

[it is what it is]

5 minutes ago, Chris.B said:

What is the interest rate for these?

 

 

read the article...

[Chris.B]

1 minute ago, it is what it is said:

 

read the article...

It doesn't say.

 

[Will B Good]

1 minute ago, it is what it is said:

 

read the article...

Can you highlight for me the interest rate? Cheers.

 

The Thai Government’s special savings bonds, for people aged 60 and above, sold like hot cake as the 30 billion baht worth sold out in two days when they went on sale on Monday, according to Director of the Public Debt Management Office Patricia Mongkhonvanit.

The special savings bonds were sold online and via the mobile banking platforms of four commercial banks. 27 billion baht worth of bonds were sold on Monday alone, while the remaining 3 billion baht was sold yesterday (Tuesday).

She said that the online investment is a good sign that people are adjusting the way they are conducting financial transactions using technology, at a time when the country is battling a pandemic.

She also thanked members of the public for their interest in investments in special savings bonds and the Bangkok Bank, KasikornBank, Krung Thai Bank and Siam Commercial Bank, for the success of the project.

Meanwhile, Deputy Government Spokesperson Rachada Dhnadirek assured the public the government can handle the public debt, citing Standard & Poor (S&P) Global Ratings of Thailand’s sovereign credit rating at BBB+. She said the remaining debt in November accounted for 9.62 trillion baht or 59.58% of the GDP, which was at an acceptable level.