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SCB successfully issues US$400 million in Senior Unsecured Notes

Jan 26. 2017
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By The Nation

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Siam Commercial Bank PCL has issued US$400 million 3.20% 5.5-year Senior Unsecured Notes, which are due in 2022. 

The notes are rated Baa1 by Moody’s, BBB+ by S&P, and BBB+ by Fitch, the bank said in a press statement.

It said the transaction is significant on several became its first US$ bond issuance out of Thailand in 2017, and the notes were oversubscribed almost three times during book building with strong support from investors in Asia and Europe.

SCB will apply the net proceeds to meet the funding requirements of the Bank and its foreign branches and for general corporate purposes, the statement added. 

Well accepted by a wide-range of foreign investors in both Asia and Europe, the notes were distributed to high quality fixed income accounts: 65% to fund managers, 24% to banks, 5% to public institutions, 4% to insurance companies, and 2% to private banks. Barclays Bank and Deutsche Bank acted as lead managers for this issuance.  

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