TMBThanachart Bank accepts $125.37 million tendered 4.9% perpetuals

By Marisa Wong

Los Angeles, Nov. 4 – Thailand’s TMBThanachart Bank PCL announced the results of its Oct. 26 invitation to holders of its 4.9% perpetual additional tier 1 capital securities (ISIN: XS2084378798) to tender their notes for purchase for cash.

As of the expiration of the offer at noon ET on Nov. 3, holders had tendered a total of $153,084,000 of the securities, and the issuer has accepted $125,373,000 of the notes for purchase.

The issuer had initially set the maximum acceptance amount at $120 million.

The purchase price is $900 per $1,000 principal amount. The purchase price was determined under a modified Dutch auction procedure. The minimum purchase price was $900.

Settlement is slated for Nov. 7.

After that, $245,667,000 of the notes will remain outstanding.

Hongkong and Shanghai Banking Corp. Ltd. (+852 3941 0223 / +44 20 7992 6237; liability.management@hsbcib.com) is the dealer manager.

Kroll Issuer Services Ltd. (+852 2281 0114 / +44 20 7704 0880; attn.: Mu-yen Lo / Illia Vyshenskyi; ttb@is.kroll.com; https://deals.is.kroll.com/ttb) is the tender and information agent.

Of the $400 million principal amount outstanding, $28.96 million was recently repurchased. Those notes will be canceled, as previously reported.

The bank is based in Bangkok.

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