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StanChart Thai unit plans up to 40 bln baht bonds

Mon Dec 1, 2008 1:06am EST

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BANGKOK, Dec 1 (Reuters) - Standard Chartered Bank (Thai) (STAN.L) plans to offer up to 40 billion baht ($1.1 billion) in short-term, zero-coupon bonds, according to a filing with the Securities and Exchange Commission.

The unsecured bonds would be offered to institutional and cash-rich investors, the statement said. It gave no more details.

The bonds are expected to be issued at a discount to face value, fund managers said.

The issuer is rated "AA+(tha) by Thailand's Fitch Rating. ($1=35.46 BAHT) (Reporting by Arada Therdthammakun; Editing by Alan Raybould)



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