By Angela McDaniels
Tacoma, Wash., April 30 - PTT Aromatics and Refining PCL issued Thai baht 15 billion of five-year debentures (//A-) at par with a coupon of 5½% on Thursday, according to a company notice filed with the Stock Exchange of Thailand.
The bonds will mature April 30, 2014, and interest is payable quarterly.
The underwriters were Bangkok Bank PCL, Krung Thai Bank PCL, Kasikornbank PCL, Siam Commercial Bank PCL, Bank of Ayudhya PCL, TMB Bank PCL and Siam City Bank.
Proceeds will be used to refinance existing debt.
The bonds were issued to both retail and institutional investors.
The company said it received shareholder approval at the annual general meeting on April 10 to issue up to $500 million of debentures denominated in baht, dollars or other currencies with a tenor of less than 15 years.
The issuer is a Bangkok-based aromatics refinery and a subsidiary of PTT PCL.
| Issuer: | PTT Aromatics and Refining PCL
|
| Issue: | Debentures
|
| Amount: | Thai baht 15 billion
|
| Maturity: | April 30, 2014
|
| Underwriters: | Bangkok Bank PCL, Krung Thai Bank PCL, Kasikornbank PCL, Siam Commercial Bank PCL, Bank of Ayudhya PCL, TMB Bank PCL and Siam City Bank
|
| Coupon: | 5½%, payable quarterly
|
| Price: | Par
|
| Yield: | 5½%
|
| Settlement date: | April 30
|
| Rating: | Fitch: A-
|
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