SSI to issue convertible bonds
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Sahaviriya Steel Industries Plc's board of directors approved the issuance of convertible debentures worth Bt1.65 billion.
CEO Win Viriyaprapaikit said in a statement that the debentures would be offered to existing bondholders during May 13-21, and the company would raise another Bt600 million through a private placement.
The proceeds would be used to raise capital in SSI UK, a subsidiary, which has recently opened the steel furnace and sought more capital to cope with production expansion.
