TTA debentures
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THORESEN THAI Agencies Plc, a SET-listed shipping firm, plans to raise funds to refinance its existing debts by issuing Bt2 billion in debentures with three years maturity.
The debentures will be featured with senior, unsecured and holders’ representatives. The coupon rate is 4.25 per cent per annum.
TTA chief executive Chalermchai Mahagitsiri revealed that the debentures were rated BBB by TRIS Rating and would be offered to retail and institutional investors between July 13-16.
Siam Commercial Bank is the lead underwriter.
Chalermchai said the purposes of the raised funds would include the management of its loan repayments and refinancing and enhancing its financial position and liquidity, especially in terms of cash in hand, so it was ready for future investment in new businesses at appropriate times.
“We are confident that our debentures will be enthusiastically welcomed by the investors, given the current low interest rate environment,” said Chalermchai.
There was a chance that in order to stimulate the economy the Bank of Thailand and the commercial banks would lower interest rates further this year, he said.
