Saturday, June 12, 2021
Home WOLRD South Asia Thai Oil gets $1bn bond away even as markets decline | thai...

Thai Oil gets $1bn bond away even as markets decline | thai oil, ptt, petronas, anz, bank of america, bnp paribas, citigroup, deutsche bank, standard chartered, oil, energy, pttep | FinanceAsia

Despite a market that weakened during bookbuilding, the country’s largest oil refinery priced a punchy $1 billion two-part bond deal at breakneck speed that seemed to shake off the doldrums that have affected the oil and gas sector for the past few months.

Last Thursday, 11 June, Thai Oil printed a $400 million 10-year tranche at US Treasuries plus 185 basis points at 99.859 to yield 2.516% and a $600 million 30-year tranche at 3.75%.

Execution of the Reg S144A deal was fast. Thai Oil went from mandate to execution within only three days.

The trade received very strong demand as soon as…


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