ANNOUNCEMENT | |
Date: | 11 June 2021 |
To: | Singapore Exchange Securities Trading Limited |
Subject: | Issuance of THB 40,000 million Debentures |
We, Thai Beverage Public Company Limited ("THBEV" or the "Company"), would like to announce that THBEV (the "Issuer") has today issued debentures with an aggregate principal amount of Baht 40,000 million, which comprises the initial required funding amount of Baht 35,000 million and a greenshoe option of Baht 5,000 million. The debentures were more than 1.52 times oversubscription of an aggregate principal amount. The debentures carry an average annual coupon rate of 1.95% and have an average tenor of 4.10 years.
The proceeds from the debenture issue will be used for the repayment of a Baht 40,000 million bridging loan facility that will mature in March 2023. Following the repayment of the bridging loan, the Company's unutilized credit facilities with the banks will increase accordingly. The details of the debentures are set out below:
Tranche | Placement | Tenor | Issue Size | Maturity | Fixed Coupon |
(Baht Million) | Year | Rate (p.a.) | |||
No.2/2021: 2023 Debenture | PP-II & HNW | 2 years | 7,500 | 2023 | 1.17% |
No.2/2021: 2024 Debenture | PP-II & HNW | 3 years | 7,000 | 2024 | 1.45% |
No.2/2021: 2025 Debenture | PP-II & HNW | 4 years | 11,500 | 2025 | 2.07% |
No.2/2021: 2026 Debenture | PP-II & HNW | 5 years | 11,000 | 2026 | 2.43% |
No.2/2021: 2029 Debenture | PP-II & HNW | 8 years | 1,500 | 2029 | 2.71% |
No.2/2021: 2031 Debenture | PP-II & HNW | 10 years | 1,500 | 2031 | 3.03% |
PP-II: Private Placement to Institutional Investors / HNW: High-Net-Worth Investors
The No.2/2021: 2031 Debenture has been structured with a call option granting the Company an early redemption right, exercisable from the 5th anniversary of the date of debenture issue. The redemption fee is 0.20% of the principal amount of the debentures in which issuer exercises the right to redeem the debentures.
The debentures have been assigned an "AA(tha)" rating which is considered investment grade by Fitch Ratings (Thailand) Limited.
The joint lead arrangers for the issuance are Bangkok Bank Public Company Limited, KASIKORNBANK Public Company Limited, Krung Thai Bank Public Company Limited, Bank of Ayudhya Public Company Limited, The Siam Commercial Bank Public Company Limited, and Kiatnakin Phatra Securities Public Company Limited.
This announcement and the information contained herein do not constitute an offer or invitation to purchase any securities of the Company.
Please be informed accordingly.
Yours faithfully,
Sithichai Chaikriangkrai
Director and Senior Executive Vice President
THBEV - Issuance of THB40,000million | 2/2 |
Debentures |
11 June 2021
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Thai Beverage pcl published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 10:45:05 UTC.