Kexim hits limit on Thai market arbitrage chances

Export-Import Bank of Korea (Kexim) sold Thai baht denominated bonds for the second time this year, placing 12 year debt. The deal is the longest-ever sold by a foreign issuer in Thai baht and means the issuer has hit the limit of bonds it can sell to the Thai market.

  • By Nathan Collins
  • 01 Aug 2013

HSBC priced Bt2bn ($64.1m) of 4.78% July 2025 paper at a spread of 80bp over Thai government bonds. 

The issuer has been particularly active in the currency this year, taking advantage of the currency’s basis swap level versus dollars and good investor appetite for its debt. 

“Kexim was ...

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