Second Lot Of Government Savings Bonds On Sale Wednesday

[george]

Second lot of government savings bonds on sale Wednesday

BANGKOK: -- Prospective buyers flocked to purchase the second lot of government savings bonds offered to the public Wednesday and Thursday, while the Finance Ministry increased the value of bonds for sale to Bt50 billion, up from Bt15 billion.

Enthusiastic early-bird investors arrived at banks even before dawn to queue up prior to the banks regular business hours, as they opened for customers to buy bonds at 8.30 am.

The second batch of bonds was earlier set at Bt15 billion and would offer to general public. However, because of the high demand, the Finance Ministry move the remaining Bt5 billion prepare for the third batch over the weekend, Friday July 17 to 21 to add to the second lot.

Meanwhile, the ministry, after discussions with the participating financial institutions, opted to offer another Bt30 billion bond issue, making a total Bt50 billion bond offer in the second batch during Wednesday and Thursday.

The grand total for the bond offer was Bt80 billion. If the bonds were sold out, there would no third lot bond offering.

The first batch of the five-year saving bond was sold out within hours on the first day of the offering on Monday.

The original amount planned was set at Bt15 billion before the ministry raised the amount to Bt30 billion, in response to the overwhelming demand from the elderly.

The additional Bt15 billion was taken from the planned third and final Bt20 billion of bonds to be offered on Friday and the following Monday. As a result, the third batch had been reduced to five billion baht.

Eligible for the first batch of bonds were those aged 60 and over. Minimum subscription is Bt10,000 and maximum Bt1 million.

Five-year savings bonds pay a yield of three per cent for the first two years, four per cent in the third year and five per cent in the last two years.

The seven participating banks are Bangkok Bank, Siam Commercial Bank, Kasikorn Bank, Krung Thai Bank, TMB Bank, and Siam City Bank.

Funds raised from the government loan sales will be invested in a number of projects to stimulate Thailand’s national economy.

-- TNA 2009-07-15

[thaimate]

no thanks

[chiangmaibruce]

From reading other threads I understand that quite a few foreigners have been told (mainly by bank staff) that they can't buy these "Strong Thailand" bonds and/or other Thai bonds. In most cases this is incorrect. I would be interested to hear by way of p.m or posts in this thread about anyone who has been told this (please mention what type of bond you were enquring about & who told you "no can do")