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TRADE FINANCE | Tony Chua, Thailand
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Thailand allows 5 foreign banks to offer baht bonds

BNP Paribas, Banco Santander Chile, Westpac, Svenska Handelsbanken, and Woori Bank can already sell a combined $1.1bn baht-denominated bonds.

Thailand has given five foreign institutions approval to sell baht-denominated bonds worth a combined 34 billion baht ($1.1 billion) by March 31, the Finance Ministry said on Thursday.

Among the five, BNP Paribas (BNPP) can issue bonds worth 10 billion baht, Banco Santander Chile (Santander) 8 billion baht and Westpac Banking Corp 6 billion baht, the ministry said in a statement.

Svenska Handelsbanken (SHB) and Woori Bank (Woori) have clearance for issues worth 5 billion baht each, it said, according to a report in Reuters.

The approval took into account the impact on Thai corporate bond issuance, the opportunity for domestic investors to invest in quality bonds and the development of the debt market, it said.

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