Wednesday, March 03, 2021

Govt to issue Bt60bn in savings bonds to fund pandemic recovery

Jan 26. 2021
Patricia Mongkhonvanit, director- general at Public Debt Management Office
Patricia Mongkhonvanit, director- general at Public Debt Management Office
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By The Nation

The Finance Ministry will issue Bt60 billion in savings bonds to raise funds for the government’s Covid-19 remedial packages and economic recovery, the Public Debt Management Office (PDMO) said on Monday.

The PDMO’s wallet app will be used to distribute Bt5 billion in five-year step-up bonds carrying an average coupon rate of  2 per cent  per annum. Retail investors can invest from Bt100 to Bt5 million.

The PDMO will open for subscription from February 1 to 19.

Meanwhile Bt55 billion in 5-, 10-, and 15-year savings bonds will be distributed via Bangkok Bank, Kasikornbank, Krungthai Bank and Siam Commercial Bank. Subscription will open from February 5 to 15. The step-up bonds carry an average coupon rate of 2 per cent annually for five-year and 2.5 per cent for 10-year bonds. The 15-year maturity bond will offer a fixed coupon rate of 1.8 per cent annually.

Non-profit organisations can subscribe for the bonds from February 16-19. 

PDMO head Patricia Mongkhonvanit insisted public debt was still manageable despite its upward trend.

Thai public debt is projected to be 56 per cent of GDP by the end of this year, up from 50.46 per cent (Bt7.9 trillion) last November.

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