11.   New bond supply often damp prices because issuers have to compete for investors.

12.   So a municipal bond issuer has to wait before using the new proceeds to retire the old debt.

13.   Still, because of the nature of the bonds and because they are new, the issuers had to pay several percentage points more than for comparably rated bonds.

14.   The card issuer has to investigate any complaints about the bill itself or about the quality of the goods or services received.

15.   With a fixed rate, the card issuer has to set it high enough to protect itself against interest rate surges.

16.   However, before any securitisations occur in Thailand, issuers will have to regain the confidence of cautious investors.

17.   However, before any securitisation occurs in Thailand, issuers will have to regain the confidence of cautious investors.

18.   It was not uncommon for an issuer to have more than one borrowing programme, arranged by different intermediaries.