krung-thai-back-in-the-market

Krung Thai back in the market

Merrill Lynch readies a new bond transaction for Krung Thai Bank less than two weeks after withdrawing an earlier deal following Thailand's coup.
October 04, 2006
Less than a fortnight after opting to withdraw its inaugural $200 million perpetual non-cumulative tier-1 offering, Krung Thai Bank is reviving the deal, which is expected to price later today. Merrill Lynch has been retained for the new transaction as sole lead.

The initial deal was pulled on September 22 in the wake of the military coup in Thailand which left investors a little unnerved. The deal had been placed and, on the first day of trading, the price widened to 30bp at the open. Later in the day it tightened slightly to a bidoffer spread of 300bp to 270bp over Treasuries or 271bp to 244bp over swaps. But the initial volatility spooked Krung...
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