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Most Thai Banks Will Need New Equity to Retire Securities in 2004.
Byline: Darana Chudasri
Sep. 5--While Kasikornbank is likely to be able to redeem its 46 billion baht in capital securities on its own, Bangkok Bank will likely have to look to issue new shares if it calls its own securities, according to Kiatnakin Securities.
Pongrat Ratanatawananon, manager of fundamental analysis at Kiatnakin, noted that 2004 would be the first year that many banks could begin to call their outstanding hybrid securities.
Kasikornbank will be the first, with its 46 billion baht worth of outstanding preferred stock and subordinated debt callable starting in January.
Bangkok Bank can begin calling its own 34.5 billion ...
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Source: HighBeam Research, Most Thai Banks Will Need New Equity to Retire Securities in 2004.