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Thailand to Sell $1.59B Government Savings Bonds Next Week

BANGKOK, Aug 20 (Reuters) - Thailand will sell 50 billion baht ($1.59 billion) of government savings bonds to the public from next week to help finance the budget deficit, the finance ministry said on Thursday.

The bonds will be offered in two tranches - 5 billion baht of four-year bonds with a coupon of 1.7% per year and 45 billion of seven-year bonds with a 2.22% coupon, the minister said in a statement.

The proceeds will be for financing the budget deficit, rather than for COVID-19 responses, Patricia Mongkhonvanit, head of the ministry’s Public Debt Management Office, told a briefing.

The offering follows the sale of 50 billion baht of government savings bonds in May to finance steps aimed at mitigating the fallout of the coronavirus outbreak under a 1 trillion baht borrowing plan.

($1 = 31.39 baht)

(Reporting by Orathai Sriring Editing by Ed Davies)

Source: Reuters

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