KBank notes rated Baa1
Moody's Investors Service has assigned a Baa1 rating to the USD-denominated senior unsecured notes proposed by Kasikornbank Plc (KBank) and to be issued under its US$2.5 billion Euro Medium Term Note (EMTN) program.
The bonds will have a maturity of 5.5 years and will be listed on the Singapore Stock Exchange ("SGX-ST").
The drawdown will be from KBank's Hong Kong branch. The outlook on the ratings, where applicable, is stable. The senior debt rating is subject to receipt of final documentation, the terms and conditions of which are not expected to change in any material way from the draft documents reviewed by Moody's.
Meanwhile, Fitch Ratings has assigned an expected 'BBB+(EXP)' rating to KBank (KBank; BBB+/Stable/bbb+) proposed US dollar-denominated senior unsecured notes with a tenure of up to 5.5 years. The notes are to be issued by KBank's Hong Kong branch under its USD2.5 billion Euro medium-term note (EMTN) programme, which was affirmed at 'BBB+' on 9 May 2017.
