Siam Industrial Credit Public Co Ltd

completed

Siam Industrial Credit Public Company Limited (SICCO or the company) is a finance company listed on the Stock Exchange of Thailand with a market capitalization of approximately $100 million. Total assets of the company were THB36.5 billion ($877.0 million) as of September 30, 2004. SICCO provides commercial and industrial financing for SMEs, and retail services, such as automobile hire/purchase and retail loans. In January 2004, the Bank of Thailand (BOT) issued a new Financial Master Plan, a prime objective of which is to achieve further consolidation of the financial sector in Thailand. The plan requires that all commercial banks currently possessing more than one banking license and/or maintaining more than one deposit-taking presence retain only one deposit-taking presence, and divest or merge any additional deposit-taking entities they may have. As a result, this change will affect the funding strategy of SICCO. The purpose of this project is aimed at supporting SICCO diversifying its funding sources and extending the maturities of its liabilities. The proceeds of this financing will be used primarily to fund the company’s growing hire purchase business and SME finance.