Bangkok--25 Jun--Minor International
Minor International (MINT) is pleased to announce the planned issuance of four-year Baht 1.5-billion unsecured and unsubordinated debenture to institutional and retail investors. The debenture enjoys an “A” rating from TRIS Rating Company Limited. Kasikorn Bank Public Company Limited (“KBANK”) is the lead arranger and underwriter. Subscriptions for both institutional and retail investors will take place from July 21 to July 23 at KBANK branches. The bond is to be listed and traded on the Thai Bond Market Association.
Mr. William E. Heinecke, Chairman and Chief Executive Officer of Minor International stated that “Despite the adverse impact from the global economic slowdown and the breakout of 2009 influenza on Thai tourism, our capable management team, together with our diversified businesses and widely-known brands have brought confidence proven by our strong presence in both food and hotel businesses. Given our strong financial position, this bond issue is rated “A” by Tris.”
Ms. Pratana Mongkulkul, Chief Financial Officer of Minor International, added: “This will be our first debenture issuing to the retail investors. Investors will find this 4-year debenture, which mature in 2013, an attractive investment alternative in the current interest rate environment. The proceed of this issuance will be used to refinance existing bank loans and reserve for future expansion.”
About Minor International: Minor International (MINT) is Thailand’s largest food service operator with over 1,000 outlets system wide under The Pizza Company, Swensen’s, Sizzler, Dairy Queen, Burger King, Thai Express and the Coffee Club brands. MINT is also a hotel owner, operator and investor with a portfolio of 27 hotels under the Anantara, Marriott, Four Seasons, Elewana and Minor International brands in Thailand, the Maldives, Vietnam, Africa, the Middle East and Indonesia. In June 2009, MINT had completed business restructuring plan on which MINT fully acquired all of Minor Corporation Public Company (“MINOR”)’s outstanding shares. MINOR is then delisted from the SET on June 22, 2009. MINOR is a leading distributor of international lifestyle consumer brands in Thailand focusing on fashion, cosmetics, in addition to being Thailand’s leading contract manufacturers. MINT was recognized by Asia Money magazine as Thailand’s Best Managed Medium Cap Company in January 2009. For more information, please visit www.minornet.com
Press Contacts: Pratana Mongkolkul / Prapharat Tangkawattana at Tel: (662) 381-5151