Singapore’s Yoma readies offering of Thai baht-denominated bonds

By Mary-Katherine Stinson

Lexington, Ky., Sept. 21 – Yoma Strategic Holdings Ltd. began a roadshow on Sept. 21 for a proposed issue of Thai baht-denominated guaranteed bonds, according to a notice and a company presentation.

The bonds will be unconditionally and irrevocably guaranteed by Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank, according to a notice.

The bonds will be issued as a private placement to institutional investors in Thailand.

They will have tenors of three, four and five years.

Bangkok Bank PCL is the lead arranger, and Thailand Securities Depository Co., Ltd. is the registrar.

The issuer is represented in Thailand by S.P. & Louis Law Office Ltd.

Twin Pine Group Co. is the sole adviser.

The bonds are registered with the Thai Bond Market Association.

Proceeds will be used to partially redeem the company’s 2.22 billion baht 3.38% five-year guaranteed bonds previously issued on Jan. 25, 2019, which will be maturing on Jan. 25, 2024.

Yoma is a Singapore-based investment holding company that engages in real estate, automotive and heavy equipment, consumer, financial and investment businesses.

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