Bangkok Bank has won the ‘Thailand Bond House of the Year 2009’ award from IFR Asia, a leading regional financial magazine. This reinforces the bank’s outstanding performance in setting a new standard and bringing innovation to the debt capital market in Thailand despite last year’s market fluctuations.
Bangkok Bank Senior Vice President and Corporate Finance Department Manager Mr. Surabhan Purnagupta said being the first Thai bank that won IFR Asia’s ‘Thailand Bond House of the Year 2009’ award is another success and proud milestone of Bangkok Bank.
“This is the first year IFR Asia magazine presents the ‘Thailand Bond House of the Year’ award. The award is given to a financial institution that develops and adapts itself well in line with fluctuating markets as well as setting new standards and introducing innovation. The value of the debentures issued is not the only criteria for determining the winner, but also debenture structures that suit the diverse needs of issuers and investors”, Mr. Surabhan said.
IFR Asia magazine (Volume 630, December 2009) by Denise Wee said ‘Thanks to the low interest rate environment, retail inverters were the key driver for the baht bond market in 2009, which saw insurance skyrocket to bt304.4bn (US$ 9.19bn) up to mid-November compared to Bt198.3bn in 2008. Bangkok Bank made great strides in the review period leveraging off its large depositor base that allowed it to play a key role in major transactions. The bank notched up bookrunner volumes of Bt48.6bn from 21 issues.
‘Bangkok Bank’s success came on the back of its strong performance in the previous three years during which it increased its market share from 10.2% in 2007 to 15.8% in 2009. It was the largest band for an unlisted issuer in Thailand and impressive because it was fully placed out and upsized from Bt10bn to Bt12bn just nine months after BTSC has exited from its rehabilitation programme. Apart from BTSC’s deal, Bangkok Bank also played major underwriting roles in all the other marquee deals of 2009. The bank has also seen repeat business from a cache of core clients. Bangkok Bank cemented a strong relationship with PTT, having introduced it to the retail market in 2003. The bank also saw strong repeat business from issuers like Toyota Leasing Thailand and Siam Cement included PTT Exploration and Production.’
“Bangkok Bank is proud to have taken part in contributing to the development of Thailand’s bond market by creating and offering quality debt instruments to investors while taking into account benefits and fairness for all stakeholders – both issuers and investors. It is our honor to be trusted by Thailand’s leading companies who has always selected us to serve them continuously on bond transactions”, Mr. Surabhan added.
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