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Clifford Chance advises on first Thai Baht bond issuance by the Government Savings Bank under SEC regime

21 March 2017

Clifford Chance advises on first Thai Baht bond issuance by the Government Savings Bank under SEC regime

Leading international law firm Clifford Chance has represented KASIKORNBANK, Krung Thai Bank and CIMB Thai, acting as the lead arrangers in respect of a Thai Baht denominated bond issue in Thailand by The Government Savings Bank.

This is the first time The Government Savings Bank has opted for a Thai Baht bond issuance under the SEC regime as its fund raising platform, in addition to the issuance of the bonds under its own constitutional law.

The bonds may be issued within 2017, with a maximum issue size of 50,000,000,000 Baht (US$1.4 billion) and will be guaranteed by the Thai Government under the Government Savings Bank Act. The first issue of the bonds, with an aggregate principal amount of 36,000,000,000 Baht, was on 23 February 2017.

The transaction was led by counsel Doungporn Prasertsomsuk, who was supported by associate Poonpha Moosirilert.