Bangkok--3 Apr--Thai Airways
Thai Airways International Public Company Limited (THAI) has successfully issued a bond worth THB 1.5 billion, with 12-year tenor, which is the longest tenor ever issued by the Company, and interest rate of 4.98% p.a. The bond offering has been arranged by CIMB Thai Bank as the underwriter.
Mr. Piyasvasti Amranand, President of Thai Airways International, stated that the proceeds from this bond issue will be used by the Company to repay debts, invest in fixed assets, or to be reserved as working capital. The success of the fund raising through the issuance of bond that carries the longest tenor ever issued by the Company has affirmed the investors’ confidence in the long-term business prospects, vision, and operational policy and strategy of THAI as the national carrier.
Mr. Subhak Siwaraksa, President and CEO of CIMB Thai Bank, said that this bond issue is senior unsecured bond worth THB 1.5 billion, with 12 years tenor and interest rate of 4.98% p.a. CIMB Thai has been mandated as the sole bond underwriter. With credit rating of A+ and stable outlook affirmed by Tris Ratings, the bond was offered to institutional investors and large investors on 22 March 2012.
“The bond was well received by institutional investors and large investors who oversubscribed in the amount more than two times the issuance size. As the sole underwriter of the 12-year bond issue worth THB 1.5 billion of Thai Airways International, we feel honored and pleased to have participated in the offering of this significant bond deal which carries the longest tenor ever issued by the Company,” added Mr. Siwaraksa.
Photo News
Mr. Piyasvasti Amranand (left-center) President of Thai Airways International and Mr. Subhak Siwaraksa (right-center) President and CEO of CIMB Thai Bank have celebrated the success of issuing a bond worth THB 1.5 billion, with 12-year tenor, which is the longest tenor ever issued by the Company, and interest rate of 4.98% p.a. The bond offering has been arranged by CIMB Thai Bank as the underwriter.