Bangkok--10 Aug--Siam Commercial Bank
Minor International Pcl (MINT) announced that it will soon complete the issuance of THB 4.5 billion senior unsecured debentures to institutional and major investors. The debentures comprise a 5-year tranche in the amount of THB 1.8 billion with interest rate of 4.25% and a 10-year tranche in the amount of THB 2.7 billion with interest rate of 4.75%.
The issuance of the debentures is expected to be completed on August 9, 2012, with Siam Commercial Bank Pcl and Bangkok Bank Pcl as underwriters. Part of the proceeds will be used to repay some existing debentures that are nearing maturity. The remaining proceeds will be used to finance normal operations and business expansion of MINT. The Company has recorded robust financial performance on the back of strong operations and successful expansion plans, which are expected to gain even stronger momentum in the coming quarters. Therefore, MINT anticipates that its credit ratio will remain at a manageable level. Moreover, MINT has obtained an “A” credit rating with Stable Outlook from TRIS Rating, reflecting the Company’s continuous growth, business diversification, prominent market position and strength of the management team.
Ms. Trithip Sivakriskul, Corporate Chief Financial Officer, commented “The interest in the issue turned out to be very substantial. The debentures were four times over-subscribed above the originally planned amount, as a result of investors’ solid confidence in MINT, together with relatively attractive return. The 10-year tranche alone was over-subscribed by 2.5 times, signifying investors’ positive view towards long-term financial stability and balance sheet strength of the Company.”
About Minor International: Minor International (MINT) is a global company focused on three primary businesses including restaurants, hotels and lifestyle brands distribution. MINT is one of Asia’s largest restaurant companies with over 1,200 outlets operating system wide in 15 countries under The Pizza Company, Swensen’s, Sizzler, Dairy Queen,Burger King, Thai Express, the Coffee Club and Ribs and Rumps brands. MINT is also a hotel owner, operator and investor with a portfolio of 40 hotels and 38 serviced suites under the Anantara, Avani, Oaks, Marriott, Four Seasons, St. Regis, Elewana and Minor International brands in Thailand, Australia, New Zealand, the Maldives, Vietnam, Tanzania, Kenya, the Middle East, Sri Lanka and Indonesia. MINT is one of Thailand’s largest distributors of lifestyle brands focusing primarily on fashion, cosmetics and contract manufacturing. Its brands include Gap, Esprit, Bossini, Charles & Keith, Pedro, Red Earth, Bloom, Tumi, Zwilling J.A. Henckels, ETL Learning and Thaisale. For more information, please visit www.minorinternational.com