5 Assuming that Blades is unable to locate a Thai bank that is willing to issue an L/C on Blades’

behalf, can you think of a way Blades could utilize its bank in the United Kingdom to effectively obtain an L/C from a Thai bank?

Blades plc has recently decided to establish a subsidiary in Thailand to produce ‘Speedos’, Blades’ primary roller blade product. In establishing the subsidiary in Thailand, Blades was motivated by the high growth potential of the Thai roller blade market. Furthermore, Blades has decided to establish a subsidiary, as opposed to acquiring an existing Thai roller blade manufacturer for sale, in order to maintain its flexibility and control over the operations in Thailand. Moreover, Blades has decided to issue yen-denominated notes to partially finance the cost of establishing the subsidiary.
Blades has decided to issue notes denominated in yen instead of baht to avoid the high effective interest rates associated with the baht-denominated notes.