Bloomberg News

IBK Said to Meet Investors in Thailand for Baht Bond Sale

February 21, 2012

(Updates with company response in third paragraph.)

Feb. 21 (Bloomberg) -- Industrial Bank of Korea plans to meet bond investors in Thailand as soon as this week, according to a person familiar with the matter.

The state-owned lender hired Standard Chartered Plc to arrange the meetings, which may be followed by a sale of notes denominated in baht, the person said, asking not to be named as the details are private.

A bank spokesman in Seoul, who didn’t want to be identified, declined to comment on a possible bond sale when reached by telephone today.

IBK would become the third Korean lender to sell notes in Thailand this year, after Woori Bank and Hana Bank raised 6 billion baht ($195 million) and 10 billion baht, in January and earlier this month respectively, according to data compiled by Bloomberg.

Export-Import Bank of Korea, Korea National Oil Corp., and Korea Development Bank also registered in January with the Thai finance ministry to sell as much as 48 billion baht notes by the end of September.

IBK debuted in the Thai capital markets in October 2010, with 5 billion of five-year baht bonds priced to pay 2.93 percent, according to data compiled by Bloomberg. Standard Chartered also managed the transaction, the data show.

--Editors: Beth Thomas, Katrina Nicholas

To contact the reporter on this story: Taejin Park in Seoul at tpark31@bloomberg.net

To contact the editor responsible for this story: Sarah McDonald at smcdonald23@bloomberg.net


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