Thai bank gets credit<\/p>\n
SINGAPORE (AFP): The Overseas Union Bank (OUB) and AFC
\nMerchant Bank joined forces under an agreement signed here
\nyesterday to raise funds for the Thai Laem Thong Bank's largest
\noffshore syndicated credit facility.<\/p>\n
OUB, one of Singapore's largest banks, and AFC, owned by a
\ngroup of ASEAN banks, will raise US$80 million from the
\ninternational capital market for the facility, which would meet
\ngeneral funding requirements of the Thai bank.<\/p>\n
Fourteen other international financial institutions are to
\nparticipate in the facility, the second time OUB and AFC have
\nworked together to raise funds for Laem Thong, one of Thailand's
\noldest commercial banks.<\/p>\n
In May 1994, the two institutions raised $38 million through a
\nsyndicated credit facility that marked Laem Thong's first foray
\ninto the Singapore capital market.<\/p>\n
Laem Thong Bank's president and chief executive Gurdist
\nChansrichwala and its executive director, Suchati Netisingha,
\nwere present at Friday's signing ceremony, an OUB news release
\nsaid.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/thai-bank-gets-credit-1447893297",
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