Bangkok--20 Mar--Bangkok Bank
Bangkok Bank to Offer New EASY BUY Debentures March 26-29:With Guarantee 3-years 4.95% 4-years 5.35% and Without Guarantee 3-years 5.20%
Bangkok Bank will open for subscription EASY BUY’s new debentures to individual investors through its branches nationwide during 26-29 March, 2012. The debentures offer interest rates, paid quarterly, of 4.95-5.35% per annum for maturities of 3-4 years.
Mr. Surabhan Purnagupta, Corporate Finance Department Manager, Investment Banking Group, Bangkok Bank Plc, said Bangkok Bank was to offer up to Baht 2 billion of EASY BUY’s new secured and unsecured debentures for public subscriptions. The debentures are offered at Baht 1,000 per unit, with a minimum subscription of Baht 100,000 per tranche. There are 3 tranches of debentures to be offered. Tranche 1 is secured, approx. 3 years tenor, paying 4.95% per annum. Tranche 2 is secured, approx. 4 years tenor, paying 5.35% per annum. Tranche 3 is unsecured, approx. 3 years tenor, paying 5.20% per annum. The secured debentures received a credit rating of BBB+ from TRIS Rating, being guaranteed by ACOM, one of the largest consumer finance companies in Japan and a major EASY BUY shareholder. The unsecured debentures received a credit rating of BBB. EASY BUY debentures represent a good opportunity for investors to invest in securities with attractive yields. The debentures will be opened for subscription at Bangkok Bank branches nationwide (excluding Microbranches) during 26-29 March, 2012. Thanachart Bank, Capital Nomura Securities and CIMB Thai Bank will also offer the debentures through their branches.
Mr. Takeharu Uematsu, Vice Chairman and Chief Executive Officer of EASY BUY Public Company Limited, stated that the company is one of the leading consumer finance companies in Thailand under the “Umay+” brand with a strong market position. The company has a 26% market share among non-bank financial service providers. Its profits also show continuous growth over the years, with a 42% increase in net profit last year - from Baht 925 million in 2010 to Baht 1.31 billion in 2011. The proceeds from the debenture issuance will be used as working capital and for refinancing.
EASY BUY was founded in Thailand in 1996. Its major shareholders are ACOM Co., Ltd., a leading Japanese consumer finance business (49% share), Thailand Equity Fund (26% share), and Itochu group (19% share). The company provides consumer finance services via 82 branches. As of 31 December, 2011, EASY BUY held a personal loan portfolio of Baht 26.71 billion, Baht 28.395 billion in total assets, Baht 24.269 billion in total liabilities, and Baht 4.126 billion in total shareholder equity.
Interested customers and investors may request more information on the debentures at Bangkok Bank branches nationwide (excluding Microbranches) or by calling the Corporate Finance Department at 0-2230-2328, Bualuang Phone at 1333, Thanachart Bank at 1770, Capital Nomura Securities at 0-2638-5000, CIMB Thai Bank at 0-2638-8324 or by visiting: www.bangkokbank.com