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UPDATE 1-Thailand to sell $12 bln govt bonds from October

Wed Jun 18, 2008 3:00pm IST
 
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BANGKOK, June 18 (Reuters) - Thailand plans to issue about 400 billion baht ($12 billion) of 2-30 year government bonds for the fiscal year from Oct. 1, a senior Finance Ministry official said on Wednesday.

The ministry would focus on bonds with a maturity of 5 and 10 years, Public Debt Management director Pongpanu Svetarundra told reporters.

The issue is part of a 500 billionbaht debt management plan for the 2008/09 fiscal year (October-September) to finance a deficit budget, debt restructuring and infrastructure projects, he added.

"The remaining 100 billion baht might be funded in the form of state-enterprise borrowing and treasury bills," he said.

The government was also considering selling more treasury bills in the next fiscal year, as well as a new type of debt in which yields would be linked to inflation, he added.

"Domestic interest rates are in an upward trend. We try to lend with long-term maturities to lock in costs. Also, to help develop bonds in the secondary market, we will focus on issuing 5- and 10-year bonds," he said. ($=33.23 Baht) (Reporting by Trisanat Kongkhunthian; Writing by Orathai Sriring; Editing by Ed Cropley)

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