Market Support Programs

Thailand: Bond Stabilization Fund

Operational: SPV established: April 19, 2020 Firs

Purpose

To backstop companies that could not “fully rollover maturing corporate bonds” (BOT, MOF, and SEC 2020)

Key Terms

  • Launch Dates
    Announced: March 22, 2020 Authorized: April 19, 2020
  • Operational Date
    SPV established: April 19, 2020 First accepted applications: April 29, 2020
  • End Date
    Last application to be accepted by December 31, 2022
  • Legal Authority
    Emergency Decree B.E. 2563
  • Source(s) of Funding
    Originally public-sector enterprises, insurance providers, and the Thai Bankers Association; ultimately BOT
  • Administrator
    Krung Thai Asset Management
  • Overall Size
    THB 400 billion
  • Eligible Collateral (or Purchased Assets)
    Newly issued commercial paper
  • Peak Utilization
    Not used

Key Design Decisions

Purpose1

Part of a Package1

Governance1

Administration1

Communication1

Disclosure1

SPV Involvement1

Program Size1

Source(s) of Funding1

Eligible Institutions1

Auction or Standing Facility1

Loan or Purchase1

Eligible Collateral or Assets1

Loan Amounts (or Purchase Price)1

Haircuts1

Interest Rate1

Fees1

Term1

Other Conditions1

Regulatory Relief1

International Cooperation1

Duration1

Key Program Documents

Key Program Documents

Key Program Documents

Key Program Documents

Key Program Documents

Taxonomy

Intervention Categories:

  • Market Support Programs

Countries and Regions:

  • Thailand

Crises:

  • COVID-19