THURSDAY, March 28, 2024
nationthailand

Thai Union's Bt10 bn bonds oversubscribed

Thai Union's Bt10 bn bonds oversubscribed

Thai Union Group has successfully completed the book building for its new debentures worth totally Bt10 billion.

The book building attracted strong participation from institutional investors and were oversubscribed around 3.25 times, the company said in a statement.
The debentures, with maturities of 3, 5 and 7 years, are the largest issuance ever by the seafood company. The value size was increased from Bt6 billion to Bt10 billion. 
Rated "AA-'" by Tris Rating, the bonds offer 2.03 per cent, 2.32 per cent, and 2.79 per cent per annum, accordingly to their maturities. 
TU said that the proceeds would mostly be used to refinance existing asset-backed loans (ABLs) borrowed by TU subsidiaries in the US. The group is in the procees to establish a Global Treasury Centre in Thailand, to improve the overall cost of borrowing for the group and financing flexibility. 
TAGS
nationthailand