Fox Business - Latest News - Bangkok Bank Seeks to Price 2-Tranche Benchmark-Sized Dollar Bond as Early as Today - Term Sheet

Bangkok Bank Seeks to Price 2-Tranche Benchmark-Sized Dollar Bond as Early as Today - Term Sheet

Bangkok Bank PCL (BBL.TH) is planning to sell a two-tranche benchmark-sized U.S. dollar bond as early as today, according to a term sheet seen by Dow Jones Newswires Tuesday.

The Thai bank is seeking to price a 5.5-year tranche to yield around 235 basis points over comparable Treasurys, and a 10-year tranche to yield around 237.5 basis points over Treasurys.

Morgan Stanley is sole bookrunner on the fixed-rate, senior unsecured Reg S/Rule 144A offering, which is provisionally rated A3 by Moody's Investors Service and BBB-plus by Fitch Ratings and Standard & Poor's Ratings Services.

Reg S status means the bond doesn't need to be registered with the Securities & Exchange Commission, but Rule 144A enables it to be sold to qualified institutional buyers in the U.S.

Write to Natasha Brereton-Fukui at natasha.brereton-fukui@dowjones.com

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DOW

121.18 | NAS

33.73 | S&P

17.00
(Data as of 2013-05-17 4:39 EDT)