First lot of savings bonds to be launched on 14-15 July

BANGKOK, 17 June 2009 (NNT) – Following the House of Representatives’ endorsement of the executive decree on loans on Monday night, the Director of the Public Debt Management Office, Mr. Phongphanu Sawetrun, said his office would soon launch the first lot of five-year savings bonds worth 30 billion baht, to the public.

Mr. Phongphanu said senior citizens would be given privilege to be the first to purchase the fixed incomes, and they would be distributed between 14-15 July. He expected the savings bond should yield at least three percent from the first till third years, four percent in the fourth year, and five percent in the fifth year in line with current economic conditions.

According to the Thai Bond Market Association, five-year government bond yields are currently at 3.34 percent. The savings bonds are expected to be available at two state-run banks.

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