How Thai Airways went Japanese to save $5m a year on bonds
CFO tells CT how he used a cross-currency swap to cut the effective interest rate on long-term bonds from 4.7% to 2.2%. He also discusses reducing the number of bank relationships
In June 2017, national flag carrier Thai Airways broke new ground when it included a 15-year tranche in its Bt8 billion ($254 million) debenture – the first time it had used a tenor of more than a decade.
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