Big C refinances takeover loan
Big C Supercenter has borrowed Bt27 billion to refinance a bridge loan for the acquisition of shares of CenCar, the operator of Carrefour hypermarkets in Thailand.
Big C acquired CenCar in 2010 supported by a bridge loan from Krung Thai Bank and TMB Bank.
According to a previous report to the Stock Exchange of Thailand, Big C exercised its rights under the bridge-loan agreement to extend without penalty the maturity of the loan until July this year.
The company has been granted a credit line of Bt27 billion from KTB, TMB Bank and the Bank of Tokyo-Mitsubishi UFJ, Bangkok branch, and Bt5 billion from the Bank of Tokyo-Mitsubishi UFJ for the sole purpose of refinancing the bridge loan.
The refinancing is aimed at strengthening its aggressive marketing plan including outlet expansion.
The company this year plans to open four new outlets, one of which has already opened.
It will expand retail business in various channels as well as the online market and its smaller convenience stores.
