Early this morning I was at my branch of the BKK bank to buy a bunch of these debentures.

http://www.bangkokbank.com/bangkok%20bank/personal%20banking/investments%20and%20fixed/pages/easybuy.aspx

Waste of time, as there were none to be had. Somehow all 1,500,000,000 Baht's worth had been sold, possibly even before the branches had opened.

This also happened to me with other debentures being sold by the SCB.

I am beginning to wonder if there is some sort of scam here, are the big boys and associates on some privileged path, leaving the rest of us with no chance? Has anybody managed to buy these or other new issue debentures?

Definitely not a scam.

Looking at the issue, 1.5mio units @ 1,000 baht each. Minimum subscription is 100,000 baht. That means that a maximum of 15,000 people will get an allocation, even if everyone got the minimum. That's not a big number, especially as there will be plenty of people around who will apply for (well above) the minimum - 1,500 @ 1mio and 150@ 10mio etc. Could well have been just a popular issue, and going quickly. In addition to Bangkok Bank, Thanachart and Capital Nomura were also selling.

If demand is high, it's also possible they gave priority to their best clients, with most money. Best thing you can do is have a good relationship with your Relationship Manager at the bank, let them know you're interested in these type of things, and ask them personally if they can help you get in on the next issue. Alternatively making sure you're the first person at the door when the bank opens will give you an idea of how much pre-allocation there may have been if you still don't get any.

[bTW Did you try another branch or even staff member? Also possible the person you spoke to just didn't want to be bothered, didn't know what to do etc ]

I've had a chat with the bank.

In spite of the statement

Subscription period is on 19-22 December, 2011 at Bangkok Bank branches nationwide

they also run a non-publicised "pre-sales" list. With the result that there are very few, if any, debentures actually available to those not on this list.

This I see as effectively a scam.

The non-scam procedure would be to announce the presence of the "pre-sales" list.

So now I know, and so do a few more people.