BANGKOK, Feb 27 (Bloomberg): Thailand’s central bank plans to auction its first floating-rate notes linked to a local benchmark to replace Libor, as the move away from the scandal-tainted benchmark gathers pace globally.
The Bank of Thailand will auction 30 billion baht ($1 billion ) of 182-day notes with a coupon rate of 5 basis points above the compounded Thai overnight repurchase rate, known as Thor, on March 25, it said in a statement Thursday. The offering is part of the central bank’s 380 billion bond auction plan for March, it said.
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