Another B40bn BAAC loan auction scheduled | Bangkok Post: business

Business > News

Another B40bn BAAC loan auction scheduled

- +

An additional 40-billion-baht loan facility for paying rice farmers will be auctioned by the Bank for Agriculture and Agricultural Cooperatives (BAAC) on Thursday following strong demand for the first batch of the state-backed farm bank's 50-billion-baht term loan. 

Deputy finance permanent secretary Pongpanu Svetarundra said the minimum bid was set at 2 billion baht, while the six-month Bangkok Interbank Offered Rate (BIBOR) would be used as a benchmark for the new term-loan auction.

The BAAC's first 50-billion-baht three-year term loan auctioned last week drew strong demand from local financial institutions, with almost three times oversubscription with a 0.1% lower rate than the BIBOR of 2.2792%, marking the first state-enterprise bonds with a lower rate than comparable government bonds.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments