The first tranche comprises THB5 billion worth of debentures that will mature in 2027. These carry coupon rate of 3.08% per annum (p.a.).
Another THB6.5 billion in debentures will mature in 2028. The coupon rate for this tranche is 3.25% p.a.
The third tranche comprises THB4.5 billion worth of debentures. These will mature in 2034 and carry a coupon rate of 3.88% p.a. This tranche has been structured with a call option that grants the group an early redemption right, exercisable from the fifth anniversary of the date of debenture issue.
The final tranche, THB6 billion of debentures, will mature in 2026 and carry a discount coupon rate of 2.98% p.a.
See also: Cosmosteel’s CEO Ong resigns after 3HA Capital offer declared unconditional
The proceeds will go towards repaying the group’s existing debts, mainly two of its existing debentures that will be maturing in March and April this year.
The joint lead arrangers for the debenture issue are Bangkok Bank Public Company Limited, Kasikorn Bank Public Company Limited, Krung Thai Bank Public Company Limited, Bank of Ayudhya Public Company Limited, The Siam Commercial Bank Public Company Limited, CIMB Thai Bank Public Company Limited, and Kiatnakin Phatra Securities Public Company Limited.
Shares in ThaiBev closed 1 cent lower or 1.98% down at 49.5 cents on Feb 7.
