Thailand: TPI Polene bond issue

Thailand: TPI Polene bond issue
12 January 2015

Thai-based cement producer TPI Polene says it will issue two tranches of THB6bn (US$182.5m) worth of debentures.

Prachai Leophairatana, chief executive of TPI, said the first tranche would be a four-year debenture carrying a coupon rate of 4.85 per cent while the second tranche for five years carries a coupon rate of 5.20 per cent.

Both tranches of debentures are senior unsecured debts and the debts will be ready for subscription on 19-21 January 2015. CIMB Thai Bank has been selected as the company underwriter.

"The proceeds from these debentures will be used to fund the company's operations and support investment projects that are being implemented and planned for the future. They will also be used for early financing for debts with high funding costs," noted Mr Prachai.

Published under Cement News

Tagged Under: Bond Issue Thailand TPI Polene