KTB sells 1 billion ringgit worth of subordinated bonds
Krungthai Bank has sold 1 billion ringgit (Bt8.9 billion) worth of subordinated bonds under the Basel III standard, the highest value of such ringgit-denominated bonds ever offered to institutional investors by a foreign bank in the Malaysian market.
Kittiya Todhanakasem, first senior executive vice-president of KTB’s financial management group, said the bank doubled its offering from the previous plan to sell 500 million ringgit worth of subordinated bonds after encountering strong interest from institutional investors in Malaysia last month.
KTB successfully sold US dollar subordinated bonds under the Basel III standard in June, 2014, but this is the first time a Thai bank has offered such bonds denominated in the Malaysian currency.
Kittiya said the funds raised would consolidate the bank’s Tier 2 capital and back its business expansion plan.
