Kasikornbank, or KBANK, informed the Stock Exchange of Thailand that on 17 September 2017, Kasikornbank's Hong Kong branch issued subordinated notes qualifying as the bank's Tier 2 capital, worth 800 million US dollars, under the bank's U.S.$4,000,000,000 Euro Medium Term Note Programme. The notes are specifically named U.S.$800,000,000 6.278 per cent Tier 2 Subordinated Notes due 2036. They are subordinated and unsecured, with no noteholders' representative, have a maturity of 10 years, carry a fixed interest rate of 6.278 per cent per annum, pay interest every 6 months, and can absorb the bank's losses under specified conditions. Moody's Investors Service rated the notes at Ba1, and the bank offered the entire issue to institutional investors overseas, with permission from the Securities and Exchange Commission, or SEC, under the Capital Market Supervisory Board's notification on the criteria, conditions, and procedures for applying for and granting permission to offer newly issued debentures to investors overseas.
Kasikornbank Public Company LimitedKBANK issued $800M Tier 2 subordinated notes, strengthening its capital base.
Moodys Corporation
