By Jennifer Chiou
New York, Oct. 17 - Thailand's PTT PCL said it sold 10 billion baht of unsubordinated unsecured debentures (//AAA) in two tranches.
The deal included a tranche of 7.45 billion baht of five-year debentures, which will bear an interest rate of 5% for years one to three, then 5.5% for years four and five. The issue also included a tranche of 2.55 billion baht of seven-year debentures, which also carry an interest rate of 5% for years one to three, a coupon of 5.5% for years four and five and a coupon of 6% for years six and seven.
The company's shareholders authorized a 50 billion baht five-year fundraising plan on April 30, 2007.
Proceeds will be used to refinance debt as well as for working capital.
Bangkok Bank PCL, Kasikornbank PCL, Krung Thai Bank PCL and Siam Commercial Bank PCL were underwriters.
PTT, which has headquarters in Bangkok, is an oil and gas conglomerate.
| Issuer: | PTT PCL
|
| Issue: | Two tranches of unsubordinated unsecured debentures
|
| Total amount: | 10 billion baht
|
| Underwriters: | Bangkok Bank PCL, Kasikornbank PCL, Krung Thai Bank PCL, Siam Commercial Bank PCL
|
| Settlement date: | Oct. 17
|
| Rating: | Fitch: AAA
|
|
|
| Five-year debentures
|
| Amount: | 7.45 billion baht
|
| Maturity: | Oct. 17, 2013
|
| Interest rate: | 5% for years one to three; 5.5% for years four and five
|
|
|
| Seven-year debentures
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| Amount: | 2.55 billion baht
|
| Maturity: | Oct. 17, 2015
|
| Interest rate: | 5% for years one to three; 5.5% for years four and five; 6% for years six and seven
|
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