Mitihoon – KASIKORNBANK has issued US$800 million of subordinated notes qualifying as Tier 2 capital through its Hong Kong Branch. The transaction is intended to support the Bank’s capital structure management in alignment with its business plan amid a continuously evolving financial environment.
Mr. Chongrak Rattanapian, President of KASIKORNBANK, said, “This subordinated notes issuance forms part of the Bank’s long-term capital management plan. The notes have a tenor of 10 years, carry an interest rate of 6.278% per annum, and are callable by the Bank at year five. The Bank remains committed to maintaining capital at an appropriate level while exercising disciplined funding cost management, thereby supporting its business operations and sustaining customer confidence.”
The notes were issued through KASIKORNBANK’s Hong Kong Branch, rated Ba1 by Moody’s, and listed on the Singapore Exchange. BNP Paribas, Citigroup, J.P. Morgan and Standard Chartered Bank acted as Joint Lead Managers.
The offering attracted strong interest from international institutional investors, with orders reaching approximately US$2.6 billion. Demand came from leading institutional investors as well as new institutional accounts, such as sovereign wealth funds, helping to broaden the Bank’s international investor base. By geographic allocation, more than 60% of the notes were allocated to investors in Asia, with the remainder allocated to investors in other regions, including Europe. The successful transaction reflects international investors’ confidence in KBank and its disciplined approach to capital management. It also supports the efficient management of the Bank’s capital structure ahead of the redemption of its existing Tier 2 subordinated notes in October 2026.
Disclaimer
This document is not an offer to purchase or sell, or solicitation of an offer to purchase or sell securities in the United States. The securities referred to herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Bank does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States. Nothing in this document constitutes an offer, sale or solicitation of an offer to purchase or sell of bonds, notes or any securities in Thailand or any jurisdiction where it is unlawful to do so.
A credit rating is not a recommendation to buy, sell or hold the securities and may be subject to suspension, reduction or withdrawal at any time by the rating agency.
The approval has been granted by the Office of the Securities and Exchange Commission of Thailand to the Bank to issue and offer the Instruments pursuant to the notification of the Capital Market Supervisory Board regarding rules, conditions, and procedures for application and approval for offer for sale of newly-issued notes to overseas investors. The Instruments must be offered or sold to investors outside Thailand only, and the Instruments must not be offered, sold or transferred in Thailand. The Banks does not allow any distribution, supply or use of this announcement or any information contained herein in connection with any offer for subscription for, or sale of, the Instruments or other securities to any person in Thailand.
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