<div class=newsTextDataWrapInner><p>HONG KONG (Sept 8): Kasikornbank, one of Thailand's largest commercial banks, has launched an US$800 million (RM3.2 billion) sale of US dollar Tier 2 subordinated bonds, according to an updated term sheet on Tuesday.</p></div>

<div class=newsTextDataWrapInner><p>Tier 2 bonds are a form of bank capital that can absorb losses if the lender gets into financial difficulty.</p></div>

<div class=newsTextDataWrapInner><p>The bonds were launched at 173 basis points over US Treasuries, tighter than the initial price guidance of about 205 basis points.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>They have a 10-year maturity, with the bank able to repay them early after five years, subject to regulatory approval.</p></div>

<div class=newsTextDataWrapInner><p>The bonds will mature on Sept 17, 2036, and are expected to be rated 'Ba1' by Moody's.</p></div>

<div class=newsTextDataWrapInner><p>Kasikornbank is rated 'Baa1' by Moody's and 'BBB' by S&amp;P and Fitch.</p></div>

<div class=newsTextDataWrapInner><p>Proceeds will be used for general corporate purposes.</p></div>

<div class=newsTextDataWrapInner><p>BNP Paribas, Citigroup, JPMorgan and Standard Chartered Bank are joint lead managers and bookrunners.</p></div>

<div class=newsTextDataWrapInner><p><i>Uploaded by Magessan Varatharaja</i></p></div>


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