PTT enters dollar market

oil and gas giant prices Thailand''s first true benchmark since the financial crisis.
July 16, 2004

PTT, Thailand's largest integrated petroleum company, made its bond market debut on Thursday pricing a $400 million 10-year deal via Citigroup, Deutsche Bank and JPMorgan. The Baa1/BBB sovereign rated deal was priced at 99.121% on a coupon of 5.75% to yield 5.867%. This equated to 138bp over Treasuries, or 90bp over Libor.

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