THAI’s says debenture oversubscription sign of investor faith
Thai Airways International’s Bt8-billion senior unsecured debentures were oversubscribed, reflecting investors' confidence in the national flagship's good management, sustainable financial status and build-up of its long-term reference return, THAI said.
The debentures, which have Tris’ “A” rating with a stable outlook, consist of five tranches.
The three-year, five-year and seven-year debentures are valued at Bt1 billion each. The 10-year debentures are valued at Bt2 billion and the 15-year debentures are valued at Bt2 billion.
Narongchai Wongthanavimok, vice president at THAI, said that the debenture issues were a part of the carrier’s debt management and the 15-year debentures were offered for the first time, allowing the company to better manage fixed costs for long-term financing and benefit from low interest rates.
