KBank dips into dollar AT1 market

By Morgan Davis
09 Oct 2020

Kasikornbank Public Co rolled out its first Basel III-compliant additional tier one subordinated dollar transaction on Thursday. The Thai borrower bagged $500m on the back of an orderbook that reached $2.5bn at its peak.

The Baa1/BBB+/BBB rated bank is just the third Thai bank to sell an AT1. Bangkok Bank sold a $750m 5% AT1 through its Hong Kong branch last month, and TMB Bank raised $400m from a 4.9% AT1 sale in November 2019.

For this week’s outing, global ...

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