ICBC Thai Leasing issues its inaugural debentures of THB 5,600 Mil
ICBC Thai Leasing successfully issued 2Y and 3Y Guaranteed Debentures for the first time with total amount of THB 5,600 Mil.
The Debentures were offered to Institutional and High Net-Worth investors who showed overwhelming interests, reflecting investors' confidence in the Company's business and potential growth in the future.
This success leads the Company to consider issuing unsecured debentures in the next offerings.
Dr. Ye Hu, Chairman of Industrial and Commercial Bank of China (Thai) PCL stated that "ICBC (Thai) positions ICBC (Thai) Leasing as one of its financial arms and as a crucial key for it to penetrate into the consumer finance business in Thailand.
Wholly owned by ICBC (Thai), ICBC (Thai) Leasing is treated like a department of the bank and thus gets supports in all areas including financing, management, risk management, and experienced human resources from ICBC Group in China. Such supports are meant to help ICBC (Thai) Leasing become one of the leading leasing businesses in Thailand."
To support further business expansion, ICBC (Thai) Leasing decided to tap the bond market for the first time and the mission is completed with great success.
The Company was able to issue Debentures with total amount of THB 5,600 Mil., consisting of THB 3,000 Mil. 2Y-tranche with coupon rate 3.79 per cent and THB 2,600 Mil. 3Y-tranche with coupon rate 3.98 per cent. Bangkok Bank PCL and Kasikorn Bank PCL were Joint- Lead Arrangers of the transaction.
The issue size, although originally targeted the issue size of THB 4,000 Mil., was upsized by THB 1,600 Mil. to THB 5,600 Mil. to accommodate massive demand from Institutional and High NetWorth Investors.
This demonstrated investors' confidence in both the Company and its guarantor, ICBC (Thai).