Page 61 - Annual Report 2552

Table 5 : Result of FRB Issuance in 2009

Amount (m THB) Average Return (% per year) Bid Coverage Ratio

LB135A 6,000 1.45 3.40

LB137B 8,000 1.45 2.74

LB139A 8,000 1.46 2.69

Total 22,000 1.45 2.90

3. Saving Bonds Issuance (Thai Khem Khaeng)

In year 2008, PDMO issued 3 year Saving bonds with amount of 500 million baht each on
a monthly basis. However, this structure proved to be unpopular and caused difficulties for PDMO debt

management operations as it required frequent debt restructuring. As a result, PDMO amended key
\features of Saving bonds in 2009, the total size was 80,000 million baht and has maturity of 5 years.

For the first time, the interest rates was a step up scheme where first and second year interest rates is at
3 percent, third year interest rates increases to 4 percent and the last two years interest rates will be at

5 percent. The PDMO also gave priority to the elderly (aged over 60) by giving them the rights to
purchase saving bonds first. Furthermore, PDMO has effectively made saving bonds more geographically

diverse by capping each purchase at 1 million baht and spread out amongst 7 banks. The Saving bonds
proved to be very successful.

60 รายงานประจำาปี 2552 ANNUAL REPORT 2009