Govt to sell B50bn of savings bonds

Govt to sell B50bn of savings bonds

The government will issue another 50 billion baht (US$1.59 billion) of savings bonds for sale to the public from next week to help finance the budget deficit, a senior finance ministry official 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 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 reporters.

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.

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