30 billion baht bond issued

He continued to reveal that many people were queuing to buy the bonds at branches of the seven banks that began issuing the bonds across the country, some of those were disappointed Because the bonds were quickly sold out.

Pattaya Thepprasit Siam Commercial Bank bonds were quickly sold out on the first day within just 2 hours after the bank opened. A bank customer stated to Pattaya Times reporter disappointedly, “I strongly intend to buy government bonds. Unfortunately, at 11 am when I arrived, a bank staff told me the bonds have already been sold out.”

A banker of SCB Pattaya Thepprasit, however, revealed that the bonds could not reach customers’ demand because a bond quota was too little by 2 million baht. He continued to revealed “I saw many customers waiting in front of the bank since 8.30 am, an hour before the bank opened. They entered quickly after the door had been opened, and the worth 2 million baht bonds were quickly sold out within 2 hours.”

Million senior citizens immensely attracted the bond’s coupon rate because its interest is set at three per cent a year for the first two years, four per cent for the third year and five for the last two years - an averaged annual rate of return of four per cent. Beside, the maximum investment for the first two tranches of bonds is one million baht per person, with no restrictions for the final stage, and the minimum investment per person is set at 10,000 baht.

The government has issued an 11.8 billion baht bond quota to several banks in different amount; 10.1 billion baht to Krung Thai Bank, 8.7 billion baht to Siam Commercial Bank, 7.8 billion baht to Kasikorn Bank, 4.5 billion baht to Bank of Ayhudhaya, 3.8 billion baht to TMB Bank and 3.2 billion baht to Siam City Bank.

People began queuing in front of the Kasikorn Bank head office in about 4am, and even earlier elsewhere.