November 28, 2010 / 7:24 AM / 9 years ago

REFILE-Thai PTT sets 100-year bond coupons at 5.90 pct

(Refiles, removes erroneous word, paragraph 2)

BANGKOK, Nov 28 (Reuters) - Thailand’s top energy firm, PTT PCL (PTT.BK), has set a coupon of 5.90 percent on a 100-year unsecured bond, the country’s first ever and due to be issued in early December, a company executive said on Sunday.

The company also raised its bonds size to 4 billion baht ($132 million), from the previous plan of 3 billion baht due to strong demand, Chief Financial Officer Tevin Vongvanich told Reuters.

“The booking is all confirmed, mostly it is from insurance firms, the rest is from financial institutions,” Tevin said.

The “AAA”-rated bonds, Thailand’s first 100-year issue, would be available to institutional investors on Dec. 2 and the proceeds would be used for working capital and debt refinancing.

The issue’s underwriters are Bangkok Bank (BBL.BK), Kasikornbank KBAN.BK, and Siam Commercial Bank (SCB.BK). ($1=30.23 baht) (Reporting by Pisit Changplayngam; Writing by Arada Kultawanich; Editing by Martin Petty)

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