13 Jul 2017

Krung Thai Bank Public Company Ltd's issuance of standby letters of credit

Partners Nicholas How from Rajah & Tann Singapore, Piroon Saengpakdee from R&T Asia (Thailand), Associate Ang Mian and Senior Legal Executive Ng Sui May from Rajah & Tann Singapore acted for Krung Thai Bank as lender in the grant of a facility to Singha Estate, for the issuance of standby letters of credit to support Singha Estates US$182 million two percent standby letter of credit-backed convertible bonds due 2022 listed in Singapore. This is the largest public convertible bond issuance by a Thai company in recent years.