Interest keen in Ch Karnchang debentures
Ch Karnchang Plc has sold four lots of unsecured debentures worth a total of Bt6 billion to institutional and high-net-worth investors.
The debentures were jointly underwritten by Bangkok Bank, Kasikorn Bank and Krungthai Bank and were graded A-minus by TRIS Rating.
Bangkok Bank senior vice president Prasert Deejongkit said the joint underwriters for debentures No 1/2017 were highly successful in selling the four lots. The issue attracted keen interest, with demand exceeding the initial issue of Bt4 billion by threefold. To meet demand, Ch Karnchang increased the issue to Bt6 billion.
The four lots included four-year debentures at Bt2.25 billion and 2.97-per-cent interest, seven-year debentures at Bt1.6 billion and 3.8-per-cent interest, 10-year debentures at Bt1.15 billion and 4.19-per-cent interest, and 12-year debentures at Bt1 billion and 4.32-per-cent interest.
TRIS Rating graded the debentures A-minus on May 12. Subscriptions opened on May 24-25 and the three banks issued the debentures on May 26.
At the end of 2016, Ch Kranchang reported revenue of Bt47.019 billion and net profit of Bt2.042 billion. Assets amounted to Bt94.928 billion and liabilities amounted to Bt73.074 billion. The company will use the funds from the issued bonds as working capital to support basic infrastructure developments in Thailand and overseas.
