PTT Global Chemical Pcl, (PTTGC) Thailand’s biggest chemicals company by market value, sold $1 billion in 10-year bonds, its first US dollar-offering in more than seven years.
The 4.25 percent securities yield 260 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. The bonds, the first dollar-denominated sale from the Bangkok-based company since June 2005, may be rated Baa2 by Moody's Investors Service, the second-lowest level of investment grade.
The company's $300 million of 5.5% notes due June 2015 traded at 108.1 cents on the dollar to yield 2.49% on Aug 31, Bloomberg data show.
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