Krungthai Opens Digital Bond Sale Oct 19 at 2.70-2.95%
Krungthai Bank launches digital bond sales on October 19 offering 2.70-2.95% returns through its Pao Tang app, with minimum investment of just 1,000 baht and 24-hour secondary market trading.
Krungthai Bank is preparing to open subscriptions for Gulf Development digital bonds on its Pao Tang app, offering interest rates of 2.70-2.95% and providing investors with steady returns. The offering launches October 19.
Ravind Boonyanusan, head of money and capital market business at Krungthai Bank, said the bank continues to use digital technology to develop Thailand's capital market and expand access to quality investment opportunities for Thai citizens. This aligns with the bank's 60th anniversary concept of "Krungthai at 60: Every Step Towards a Million Futures."
Krungthai is partnering with Gulf Development Public Company (GULF) to offer digital bonds that are registered, unsecured, and have trustee representation. The bonds carry an AA-/Stable credit rating from Tris Rating. GULF has a strong track record in Thailand's power generation sector with large, diversified power plants and stable cash flows from long-term electricity purchase contracts.
The bank expects the digital bonds to attract strong investor demand. Key advantages include accessibility (minimum investment of 1,000 baht), ease of trading through the Pao Tang app's bond wallet, 24-hour secondary market trading, instant settlement on both purchase and sale, and real-time portfolio tracking and pricing information in one platform.
The bond offering opens October 19, 2024 at 8:30 a.m. through the Pao Tang app and closes by 3:00 p.m. on October 21, 2024, or when sold out, whichever is earlier. Minimum subscription is 1,000 baht with increments of 1,000 baht, capped at 50 million baht per investor. Allocation is first-come, first-served.
Prospective investors can register for the bond wallet through the Pao Tang app starting today, complete their personal information, and complete the suitability assessment (Sustainability Test) in advance. More details are available at www.krungthai.com/th/krungthai-update/promotion-detail/916. Bond prospectus details are at https://market.sec.or.th/public/ipos/IPOSDE01.aspx?TransID=800584. Investors can also contact Krungthai branches or the Contact Center at 02-111-1111.
