Thai Oil raises Bt15bn in baht bonds
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Thai Oil has raised the size of its debentures by 50 per cent to Bt15 billion, thanks to overwhelming interest from local investors.
The unsubordinated unsecured bonds were issued in four tranches, which will mature in 3 to 10 years, at the coupon rates of 3.41 per cent to 4.84 per cent per annum. The bond offering was completed on March 11.
Veerasak Kositpaisal, CEO and president of Thai Oil, said that the size was raised from Bt10 billion due to the 4.29 times oversubscription.
"The baht bonds are part of our strategy to increase financial efficiency. The proceeds would be used for investment and/or working capital," he said.
