STOCKHOLM, SWEDEN -- 07/03/08 --
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 www.sek.se.
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