Bangkok--29 Aug--Francom Asia PR Publicly listed condominium developer Raimon Land recently announced the successful placement of a Baht 350 million debenture fully subscribed by Lehman Brothers. This debenture is a market rate facility provided by Lehman Brothers Commercial Corporation Asia Limited. The placement was made through Raimon Land Development Co., Ltd. of which a 99% stake is owned by Raimon Land Plc. The proceeds will be used to fund the acquisition and development of two prime Eastern Seaboard sites: A 5 Rai site adjacent to our current Northpoint project on the renowned Wong-Amat Beach and another 6 Rai plot in Central Pattaya which will be branded The Lofts Southshore. Mr. Nigel Cornick, CEO of Raimon Land, commented: “On the heels of our successful Northshore and Northpoint projects in Pattaya, we are confident that the strong demand for luxury residences in the area will continue. We fully expect that these two new sites offer the location, potential for views and natural characteristics to design projects that will exceed the expectations of our target market.” Photo caption: Raimon Land CEO Mr. Nigel Cornick (left) receives a Baht 350 million debenture from Mr. Blake Olafson, Senior Vice President — Global Real Estate Group, Lehman Brothers (Thailand) Limited. Click for photo release at www.thaipr.net