Kasikornbank, or KBANK, has issued subordinated bonds qualifying as Tier 2 capital worth 800 million US dollars through its Hong Kong branch, with a 10-year maturity and an interest rate of 6.278% per year. The bank has the right to redeem the bonds early after five years. This bond series has been assigned a credit rating of Ba1 by Moody's and is listed on the Singapore Exchange, with BNP Paribas, Citigroup, J.P. Morgan and Standard Chartered Bank acting as joint bookrunners. Mr. Chongrak Rattanapian, President of Kasikornbank, said the issuance is part of the bank's long-term capital management plan. The offering drew strong demand from foreign institutional investors, with subscriptions peaking at approximately 2.6 billion US dollars from both leading institutional investors and new institutional investors such as sovereign wealth funds. By region, more than 60 percent was allocated to investors in Asia, with the remainder allocated to investors from other regions such as Europe. The issuance comes ahead of the redemption of the existing Tier 2 subordinated bonds in October 2026.
Kasikornbank Public Company LimitedKBANK issued $800M Tier 2 subordinated bonds at 6.278% with strong foreign institutional demand, part of its long-term capital management plan.
BNP Paribas SA
Standard Chartered PLC
Citigroup Inc.
JPMorgan Chase & Co
Moodys Corporation
