Ms. Chularat Suteethorn, Director – General of Public Debt Management Office, has announced that the Ministry of Finance had reviewed the application of Thai Baht-Denominated bonds or debentures issuance in Thailand for the period ending March 2013. This is in accordance withthe Press Release of the Ministry of Finance No. 115/2011 dated October 6th, 2011, which the Ministry of Finance had invite interested foreign entitiesto submit the application forthe issuance of Thai Baht-denominated bonds or debentures in Thailand within the submission period which opensthree times a year, i.e. March, July, and November.
To permit the issuance of Thai Baht-denominated bond or debentures in Thailand, the Ministry of Finance considers several factors including: 1) the potential impact on bond issuance by Thailand-based private-sector entities, 2) the opportunity for Thai investors to invest in high-quality fixed-income assets with a reasonable return, and 3) the overall development of Thailand-domestic bond market.
For the submission period ended in March 2013, the Ministry of Finance has permitted 2 foreign entities to issue Thai Baht-denominated bonds or debentures in Thailand with the total amount of 14,000 million Thai Baht.The list of the permitted entities and the authorized amount is as follow :
PERMITTED ENTITY AUTHORIZED AMOUNT
(THB mln.)
Australia and New Zealand Banking Corporation (ANZ) 8,000
Westpac Banking Corporation (Westpac) 6,000
Total 14,000
Tomonitor the foreign entities on Thai Baht-denominated bonds or debentures issuance efficiently and effectively, the Ministry of Finance has stipulated that the permitted entities or their representatives must provide a written report on their preparations for Thai Bahtbond issuance within July and October 2013. In order to bring the highest possible outcome to the bond market, the Ministry of Finance reserves the rights to reconsider the permitted bond issuance amount and to re-allocate such amount to other potential and qualified applicants.
Moreover, the Ministry of Finance, thereby, reserves the right to restrain Baht-denominated bond/debenture issuance if the status or the financial condition of the permitted entities, or the overall economic conditions, are materially changed from the initial permission.
Last of all, the Ministry of Finance would like to take this opportunity to express our sincere appreciation to all applicants on the Baht-denominated bonds or debentures issuance in Thailand. Those wishing to apply for the next round of applications can submit their letter of intent by July 2013.
Bond Market Development Bureau
Public Debt Management Office
Tel: (+66) 2271-7999 ext. 5813
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