Devonshire Capital
July 10th 2003

Kiatnakin Finance Issue Bt 3 billion Bond

Kiatnakin Finance Public Company Limited, the third largest publicly traded finance company joins the local units of Nestle SA and GE capital Corp in selling Baht denominated bonds to finance expansion and repay costlier debt with bond yields near record lows. The five-year bonds coupon is set at 2.4 percent.

The company received orders over three times the Bt 3 billion of bonds on offer. Devonshire Kiatnakin is the Financial Advisory of this issuance and Barclays Capital Securities (Thailand) Ltd is managing the sale.

Kiatnakin earns most of its profit from auto loans, stock broking and mortgage lending. Its net profit for the three months ended March 31 rose 10 percent from a year earlier to Bt 414 million.

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