Ratch offering leaves investors wanting more

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By Virginia Furness
30 Apr 2014

A debut bond from Ratchaburi Electricity Generating Holding (Ratch) this week was met with strong demand, suggesting political unrest in Thailand has yet to deter investors from Thai credit. Investors were ready to consider a longer tenor and wanted a bigger size from Ratch, but the issuer stuck to its original targets.

“It’s a solid credit from a very defensive sector,” said a banker close to the deal. “It has the benefit of being a new name that may be more attractive than repeat issuers investors already own, and it is in a sector that they understand.”

The bond received ...

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