Thailand's Property Perfect plans up to 4 billion baht of debentures

By Marisa Wong

Madison, Wis., Feb. 27 - Property Perfect PCL said its board of directors approved the proposed issuance of up to 4 billion baht of debentures at a meeting held on Monday.

The debentures may be baht-denominated or issued in other currencies.

The bonds will have maturities of five years or less.

Proceeds will be used for working capital, to acquire land bank for development of the company's projects and to repay existing debt.

The proposed offering is subject to shareholders' approval at a general meeting to be held on April 27.

The property developer is based in Bangkok.

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