The Thai bank is finding its way into this niche segment with the first offering betting on a downtrend of US interest rates in the long term.
Kiatnakin Phatra Bank (KKP) will issue a principal-protected note in US dollars with a 10-year tenor, partially linked to the secured overnight financing rate (Sofr), on 26 August. KKP will join TMBThanachart Bank and Siam Commercial Bank in offering structured notes on the US key benchmark in Thailand. TMBThanachart Bank and Siam Commercial Bank have logged sales of US$101m and US$19m since 2024, respectively, according to SRP data. The product tracks the compounded Sofr rate only for