Mizuho bank is set to issue the first bond under the ASEAN+3 multi-currency bond issuance framework (AMBIF), an initiative to streamline cross-border financing in the region. The Japanese bank has received approval from Thailand's Public Debt Management Office to sell a Bt3.2bn (US$128.3m) baht-denominated bond under AMBIF documentation. AMBIF, announced in March, requires borrowers to file only one standard application form to sell debt in Singapore, Malaysia and Thailand. This saves issuers from dealing with different applications in various jurisdictions, shortening the time needed to obtain approval.
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