Thailand's Minor eyes 4.5 billion baht debentures with step-up coupon

By Marisa Wong

Madison, Wis., March 12 - Minor International PCL said it plans to issue 4.5 billion baht of five-year debentures.

The company plans to offer the debentures at par.

The debentures will have a fixed coupon of 3.7% for the first year, 4¼% for the next two years and 4.46% for the final year.

This issuance is part of the 15 billion baht of debentures approved by shareholders in April 2011. The current remaining issue balance is 14.7 billion baht, including the upcoming issue.

TRIS Rating Co. Ltd. has assigned a rating of A to the planned five-year debentures.

The hospitality company is based in Bangkok.

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