Concerns over increased debt issuance drove 10-year yields to the highest level since November.
Thailand plans to raise fresh borrowing by 7.6% to tackle the budget deficit, with a focus on debt refinancing and restructuring.
More than 700 billion baht of the total will be fresh borrowing to finance the budget deficit, said the people who are not authorised to discuss the information before it’s made public. Roughly 1.7 trillion baht has been earmarked for refinancing and to restructure existing debt, the people added. Patricia Mongkhonvanit, chief of Thailand’s debt office, didn’t immediately respond to a request for a comment.
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