Thailand poised for $15bn of debt sales

Thailand plans to tap the capital markets for as much as $15bn in its biggest international round of debt sales for a decade, write Pan Kwan Yuk, Michael Peel and Robin Wigglesworth.

The issuance will mark an important test of investor appetite for emerging Asian economies, which are seen by many as vulnerable to a gradual tapering of the US Federal Reserve’s emergency asset-buying programme. Kittiratt Na-Ranong, Thai finance minister, said the country was looking to raise between $10bn and $15bn over the next seven years – or at least $1.5bn every year – for a 2tn baht infrastructure programme.