Siam Commercial Bank PCL plans to issue up to US$500 million of senior unsecured notes, Fitch Ratings said Jan. 22.

The proposed tenure for the notes will be up to 5.5 years. The notes will be issued under the bank's US$3.5 billion medium-term note program by the lender's Cayman Islands branch.

The bank plans to use the proceeds from the issuance for general corporate and funding purposes.