Exim Bank Sells Float Bonds Valued At 120 Million Dollars

[Jai Dee]

EXIM Bank sells float bonds valued at 120 million dollars

Mr. Sathaporn Shinajit (สถาพร ชินะจิตร), the Managing Director of the Export-Import Bank of Thailnd (EXIM bank), revealed that the bank is offering floating rate notes (FRN), aged at five years, for sale.

Mr. Sathaporn revealed that the EXIM bank is offering 120 million dollars worth of floating rate notes for sale, the entire exchange of which will be managed by Mizuho International Company, a world-renowned firm catering to Japanese clients. The managing director said that the decision to offer FRNs came on April 3rd, amidst the political turmoil in Thailand, but due to the EXIM bank's strong reputation and clear business strategy, he is certain the FRN offer will be met with strong interest.

Mr. Sathaporn added that this gathering of capital will serve to boost interest rates in many financial institutions in the nation, as the FRNs come with a high interest of 0.10 percent when compared with other bonds.

Source: Thai National News Bureau Public Relations Department - 07 April 2006

[Jai Dee]

EXIM Thailand Issued 120-Million USD FRN

Export-Import Bank of Thailand has proved the confidence of foreign investors in Thai economy amidst internal political changes with the Bank's success in selling Floating Rate Notes (FRN) of 120 million US dollars to Japanese financial institutions.

Mr. Sataporn Jinachitra, the President of EXIM Thailand, said that the Bank, in cooperation with Mizuho International Plc, London, as arranger and lead manager, has successfully issued 5-year FRN of 120 million USD. The FRN was sold out to Japanese financial institutions on April 3rd, 2006, amidst the political changes in Thailand, thanks to the EXIM Thailand's strong position as state-owned financial institution with satisfactory operating results and well-defined business plans which advocate proactive strategies to develop new Thai exporters and enhance competitiveness of Thai exporters and investors overseas.

According to the EXIM Thailand President, this fund raiser is a benchmark rate for other Thai financial institutions as the interest rate of the FRN is 0.10 percent over 6-month USD LIBOR, payable semi-annually. This issue will in turn benefit exporters and Thai investors overseas since the fund is raised for loan extension to support Thai international business undertaking, apart from refinancing the Bank's maturing debts.

Source: Thai National News Bureau Public Relations Department - 10 April 2006