Thailand: bonds

The Thai bond market made a significant stride of development following the 1997 Asian crisis when Thai Government issued substantial amount of debt instruments to mobilize funds for the nation’s development in many aspects. At the end of 2006, outstanding value of domestic bonds totaled THB 4,085.26 billion, the majority portions or about 77% of which were government debt securities comprising loan bonds (LB) and treasury bills (TB) issued by the Ministry of Finance (43%), state agency bonds* (22%) and state-owned enterprise bonds (12%). The remaining 23% were long term corporate bonds and commercial papers whereas the Baht denominated foreign bonds shared marginally by less than 1%.
The long term corporate bonds in Thailand are mainly straight and plain. For structured bonds which are featured to be more complicated than general debt instruments, the market is still at an early stage of development. The structured bonds can be categorized into two groups: structured notes and securitization bonds. Most of the structured notes in Thailand are issued by commercial banks and are mainly Equity-Linked Notes (ELN). Although the period 1993-1998 witnessed the emergence of securitization market development in Thailand, it did not gain considerable momentum until late 2003 when Dhanarak Asset Development Company Limited (DAD), an asset management company owned by the Ministry of Finance (MOF), mobilized funds though the issuance of the largest size of securitization bonds in Thailand for the Government Complex Project.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
THB 47 3 994 993 881 000
corporate
THB 253 1 285 465 690 000
USD 38 16 929 295 000
MYR 3 1 970 000 000
CNY 1 600 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Dagong Credit *** International scale rating (foreign curr.) ***
Dagong Credit *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
National Rating Agency *** Global scale ***
Registration required. Please log in or fill in the registration form.

Latest bond issues

issue ISIN coupon volume end of placement maturity date
PTTEP Treasury Center, 4.875% perp., USD - International bonds USY7150MAB38 4.875% 354 695 000  USD 07/26/2017
Ngern Tid Lor, 2.07% 26jul2019, THB - Domestic bonds TH552003T701 2.07% 1 700 000 000  THB 07/26/2017 07/26/2019
Betagro, 3.37% 21jul2024, THB - Domestic bonds TH0612034700 3.37% 1 000 000 000  THB 07/21/2017 07/21/2024
Betagro, 2.4% 21jul2020, THB - Domestic bonds TH061203U709 2.4% 2 000 000 000  THB 07/21/2017 07/21/2020
Betagro, 2.95% 21jul2022, THB - Domestic bonds TH0612032704 2.95% 3 000 000 000  THB 07/21/2017 07/21/2022
Singha Estate, 2% 20jul2022, USD (Conv.) - International bonds XS1629745487 2% 180 000 000  USD 07/12/2017 07/20/2022
PTTEP Treasury Center, 4.6% perp., USD - International bonds USY7150MAA54 4.6% 500 000 000  USD 07/12/2017
Easy Buy, 3.37% 7jul2024, THB - Domestic bonds TH0905034607 3.37% 1 000 000 000  THB 07/07/2017 07/07/2024
TPI Polene, 3.5% 7jul2020, THB - Domestic bonds TH021203U708 3.5% 2 000 000 000  THB 07/07/2017 07/07/2020
Bangkok Commercial Asset Management, 3.64% 23jun2024, THB - Domestic bonds TH6159034607 3.64% 1 400 000 000  THB 06/23/2017 06/23/2024

World Bond market statistics

Quarterly indices

Type I 2017 IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015
BIS volume of international-bond market of emerging countries
Thai international bonds, USD bln 10.700 10.700 10.800 9.700 9.400 9.400 9.400
BIS net issues of international-bond market of emerging countries
International-bond net issue of Thailand, USD bln 0.100 0.100 1.000 0.300 -0.100 -0.100 0.100

Currencies

Daily indices

Type: 07/05/2017 07/04/2017 07/03/2017 06/30/2017 06/29/2017 06/28/2017 06/27/2017
Exchange Rates (Emerging Markets)
USD/THB 34.0080 34.0047 33.9892 33.9245 33.9861 33.9684 33.9494
show other indices

Credit Risk Indicators

Daily indices

Type: 02/17/2017 02/15/2017 02/14/2017 02/13/2017 02/10/2017 02/09/2017 02/07/2017
CDS Emerging markets (sov.) 
CDS 5Y Thailand mid * * * * * * *
show other indices

Subscription "Cbonds-Premium", "Cbonds-Premium Personal", "Cbonds-Trial", "Cbonds Premium Partner" required. Subscribe/Get trial access

Risk Management Institute

Daily indices

Type: 08/16/2017 08/15/2017 08/14/2017 08/11/2017 08/10/2017 08/09/2017 08/08/2017
RMI CVI - Asia
Thailand CVI value weighted  8.64 8.58 8.67 8.67 8.54 8.55 8.50
Thailand CVI tail  49.83 49.14 48.30 48.30 48.10 46.37 45.72
Thailand CVI equally weighted  15.49 15.53 16.46 16.46 16.06 14.91 14.78
show other indices

Macroeconomic Indicators (World economy)

Monthly indices

Type Jul 2017 Jun 2017 May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Thailand) 0.17 -0.05 -0.04 0.38 0.76 1.44 1.55
show other indices

Yearly indices

Type 2016 2015 2014
Government Debt to GDP (World), %
Government Debt to GDP(Thailand) 41.20 44.40 42.80

JP Morgan

Daily indices

Type: 08/20/2013 08/19/2013 08/16/2013 08/15/2013 08/14/2013 08/13/2013 08/12/2013
CEMBI (publication was suspended since 20.08.2013) 
CEMBI Thailand * * * * * * *
ELMI (publication was suspended since 20.08.2013) 
ELMI Thailand * * * * * * *
show other indices

Subscription "Cbonds-Premium", "Cbonds-Premium Personal", "Cbonds-Trial", "Cbonds Premium Partner" required. Subscribe/Get trial access

Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Bangkok Bank, 2.750% 27mar2018, USD   USD 03/27/2018 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.*
Bangkok Bank, 3.3% 3oct2018, USD   USD 10/03/2018 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.*
Bangkok Bank, 3.875% 27sep2022, USD   USD 09/27/2022 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
Bangkok Bank, 4.80% 18oct2020, USD   USD 10/18/2020 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Bangkok Bank, 5% 3oct2023, USD   USD 10/03/2023 05/18/2016 ***.*** *.** 05/18/2016 ***.**** *.*
Bangkok Bank, 9.025% 15mar2029, USD   USD 03/15/2029 05/18/2016 ***.**** *.** 05/18/2016 ***.**** *.**
Bangkok Dusit Medical Services, 0% 2019, THB (Conv.)   THB 09/18/2019 05/18/2016 *** -*.** 05/18/2016 *** -*.*
IRPC, 6.375% 2017, USD   USD 05/25/2017 05/18/2016 ***.*** *.** 05/18/2016 ***.**** *.**
Kasikornbank, 3.0% 20mar2018, USD   USD 03/20/2018 05/18/2016 ***.*** *.** 05/18/2016 ***.** *
Kasikornbank, 3.5% 25oct2019, USD   USD 10/25/2019 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Kasikornbank, 8.25% 21aug2016, USD   USD 08/21/2016 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
Krung Thai Bank PCL, 2.25% 11sep2018, USD   USD 09/11/2018 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.*
Krung Thai Bank PCL, 5.2% 26dec2024, USD   USD 12/26/2024 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
Krung Thai Bank PCL, 7.378% perp., USD   USD 05/18/2016 *** * 05/18/2016 ***.* *
PTT Exploration and Production, 3.71% 16sep2018, USD   USD 09/16/2018 05/18/2016 ***.*** *.** 05/18/2016 *** *.**
PTT Exploration and Production, 4.875% perp., USD   USD 05/18/2016 **.* * 05/18/2016 **.* *
PTT Exploration and Production, 5.692% 5apr2021, USD   USD 04/05/2021 05/18/2016 ***.*** * 05/18/2016 ***.*** *.**
PTT Exploration and Production, 6.350% 12jun2042, USD   USD 06/12/2042 05/18/2016 *** *.** 05/18/2016 ***.*** *.**
PTT Global Chemical, 4.25% 19sep2022, USD   USD 09/19/2022 05/18/2016 ***.*** *.** 05/18/2016 ***.** *.**
PTT PCL, 3.375% 25oct2022, USD   USD 10/25/2022 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
PTT PCL, 4.50% 25oct2042, USD   USD 10/25/2042 05/18/2016 **.*** *.** 05/18/2016 **.*** *.**
PTT PCL, 5.875% 3aug2035, USD   USD 08/03/2035 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.*
Ratchaburi Electricity, 3.5% 2may2019, USD   USD 05/02/2019 05/18/2016 ***.*** *.** 05/18/2016 ***.**** *.**
Siam Commercial Bank, 3.375% 19sep2017, USD   USD 09/19/2017 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.*
Siam Commercial Bank, 3.5% 7apr2019, USD   USD 04/07/2019 05/18/2016 ***.*** *.** 05/18/2016 ***.** *.**
Siam Commercial Bank, 3.90% 14nov2016, USD   USD 11/14/2016 05/18/2016 ***.*** *.** 05/18/2016 ***.** *.**
Thai Oil, 3.625% 23jan2023, USD   USD 01/23/2023 05/18/2016 ***.** *.** 05/18/2016 ***.* *.*
Thai Oil, 4.875% 23jan2043, USD   USD 01/23/2043 05/18/2016 *** *.** 05/18/2016 ***.** *.**
TMB Bank, 3.108% 1oct2021, USD   USD 10/01/2021 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
TMB Bank, 5.5% 9mar2018, CNY   CNY 03/09/2018 05/18/2016 ***.** *.** 05/18/2016 ***.** *.*
* Registration required. Please log in or fill in the registration form.
minimizeexpand
150 000
issues: local and international bonds
170
countries
+7 812 336 97 21
pro@cbonds.info
150 000
issues: local and international bonds
170
countries
Сbonds is a global Fixed income data platform
+7 812 336 97 21
pro@cbonds.info
Data
  • Descriptive data on bonds
  • Bond Quotes from trading systems and market participants
  • Prospectuses and other issue documents
  • Credit ratings
  • Indices and indicators
  • Market news and analytical research
Analytical instruments
  • Multi-parameter bond database search
  • Bond Maps
  • Market calendar
  • Bond calculator
  • Watchlist and Portfolio management
  • Chart analysis
  • Mobile App and Excel Add-in Tool
Enter or RegisterSubscription/Trial access