Bangkok--4 Mar--Siam Commercial Bank
The Charoen Pokphand Group (CP Group) will acquire financing totaling 45 billion baht from eight local banks to support its business expansion plans. Siam Commercial Bank and Krung Thai Bank have received the Group's mandate to act as Joint Lead Arrangers for the syndicated loan together with six other banks, namely the Export-Import Bank of Thailand, the Bank of Ayudhaya, Thanachart Bank, the Government Savings Bank, UOB (Thai), and ICBC (Thai). The funding will be divided into tranches worth 30 billion Thai baht and 500 million US dollars, respectively.
Mr. Dhanin Chearavanont, Chairman and CEO of the Charoen Pokphand Group, stated that there are international investment opportunities for the Charoen Pokphand Group’s core businesses in the next 5-7 years, particularly in the People’s Republic of China where economic growth will transform the country into the world’s leading economic nation in the future. China’s growth will be beneficial towards Charoen Pokphand Group’s continued investment in agribusiness and food as well as retail business including modern shopping centers which represent the Group’s successful venture into the Chinese retail business. Support provided by Siam Commercial Bank Pcl., Krung Thai Bank Pcl., and the other six alliances will strengthen and enable Charoen Pokphand Group to successfully represent Thailand’s business investments in emerging economy such as China.
Speaking about this major financial deal, Siam Commercial Bank Chairman of the Executive Committee Dr. Vichit Suraphongchai said that the Charoen Pokphand Group's entrusting the Bank to study details of its future large investment projects, both inside and outside Thailand, allowed SCB to structure a financing package totaling 45 billion baht to back the Group's future business growth. The financing, specially designed to suit the Group's business model, will be used for the Group's future investment in large projects in Thailand and abroad. This accomplishment demonstrates 8 banks’ capability to structure financing that provides a perfect fit for client.
Krungthai Bank President Mr. Apisak Tantivorawong noted that KTB has continuously supported the Charoen Phokphand Group around the world. With its appointment as a Joint Lead Arranger with SCB, the Bank is very proud to take part in supporting Thai businesses in competing in the global arena, which will lead to economic growth. With the strong potential of the Charoen Pokphand Group, Krung Thai Bank is looking forward to supporting its other projects planned for this year.
This joint financial support demonstrates the confidence of the eight local banks in the Charoen Pokphand Group as an engine driving business growth in a number of industries and countries, especially in China, widely recognized as the country with the strongest growth potential in the world.
Photo Caption
Charoen Pokphand Group Chairman and CEO Mr. Dhanin Chearavanont; Siam Commercial Bank Chairman of the Executive Committee Dr. Vichit Suraphongchai; and Krung Thai Bank Chairman of the Board of Executive Directors Mr. Dusit Nontanakorn as Joint Lead Arrangers, together with executives from six leading banks in Thailand are shown at the signing ceremony for the 45 billion baht syndication loan for the Charoen Pokphand Group, held at the Grand Hyatt Erawan, Bangkok. The financing will be used to support the Group’s business expansion plans inside and outside Thailand.
Executives name list from left to right position
1. Mr. Wong Kim Choong, President & CEO, United Overseas Bank (Thai)
2. Mrs. Noossara Roonsamrarn, Executive Vice President, Thanachart Bank
3. Mr. Kanit Sukonthaman, President, EXIM Bank
4. Mrs. Kannikar Chalitaporn, President, Siam Commercial Bank
5. Mr. Min Thieanworn, Vice Chairman, Charoen Pokphand Group
6. Dr. Vichit Suraphongchai, Chairman of the Executive Committee, Siam Commercial Bank
7. Mr. Dhanin Chearavanont, Chairman and CEO, Charoen Pokphand Group
8. Mr. Dusit Nontanakorn, Chairman of the Board of Executive Directors, Krung Thai Bank
9. Mr. Apisak Tantivorawong, President, Krung Thai Bank
10. Mr. Charly Madan, Head of Corporate Banking, Bank of Ayudhya
11. Mr. Chukiat Titihirunjaroen, Executive Vice President, Corporate and Public Sector Loans, Government Savings Bank
12. Mr. Youbin Chen, Chief Executive Officer, ICBC (Thai)