SOURCE: AB Svensk Exportkredit

July 03, 2008 08:07 ET

SEK one of only 15 foreign applicants to be granted permission to issue Baht-denominated bonds in Thailand

STOCKHOLM, SWEDEN--(Marketwire - July 3, 2008) -

SEK is one of only 15 foreign applicants who have been granted permission to issue Baht-denominated bonds in Thailand. The permission is important for Swedish companies wanting to make investments in Thailand.

The permission allows SEK to raise up to 3.5 billion Thai baht (approximately USD 105 million) and is valid until December 31, 2008. SEK was one of only 15 successful foreign applicants. The Thai Ministry of Finance evaluated applications based on a number of criteria, for example the applicant's credit rating and use of proceeds. SEK has through this permission secured its ability to successfully provide local currency financing in Thailand which is very important for Swedish companies wanting to invest in the Thai market.

- SEK is honored to once again be granted permission by the Thai Ministry of Finance. We believe that the Ministry looked favorable at the fact that SEK successfully issued a Thai baht bond in June 2008, says Johan Sverdrup, Director and Senior Executive Emerging Markets at SEK.

The Thai currency is not fully convertible and access to the capital market is controlled, all of which underlines the importance of access to Thai baht financing for business activities and investments in Thailand.

For further information please contact Johan Winlund, Head of Communication at SEK, +46 8 613 84 88.

SEK, Swedish Export Credit Corporation, is an independent institution, founded in 1962, and owned 100 percent by the Swedish State. SEK employs some 180 employees, with its head office in Stockholm and a representative office in Helsinki, Finland.

For over 45 years SEK has facilitated business for the Swedish trade and export industry by providing tailor made, long term, financial solutions for companies, the public sector, financial institutions and national and international investors. The company is involved in corporate lending, export credits, structured finance and financial advisory services.

SEK is also the largest Nordic borrower in the international capital markets with a broad range of investment opportunities. SEK is rated AA+ by Standard & Poor's and Aa1 by Moody's.

Further information can be obtained at SEK's home page

Copyright © Hugin AS 2008. All rights reserved.

Contact Information