By Mary-Katherine Stinson
Lexington, Ky., Nov. 17 – Yoma Strategic Holdings Ltd. has released new details on a two-tranche offering of up to 1.7 billion of Thai baht-denominated bonds (TRIS Rating Co., Ltd.: AAA), according to a company factsheet.
The up to 1.275 billion baht first tranche, identified as guaranteed bonds of Yoma Strategic Holdings Ltd. No. 1/2566(2023) Tranche 1 due B.E. 2569 (2026), will bear interest at 6.09% with a tenor of three years.
The up to 425 million baht second tranche, the guaranteed bonds of Yoma Strategic Holdings Ltd. No. 1/2566(2023) Tranche 2 due B.E. 2571 (2028), will bear interest at 6.57% with a five-year tenor.
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 subscription date is Nov. 21, and the bonds are expected to be issued on Nov. 22.
The bonds will be issued as a private placement to institutional investors in Thailand.
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 adviser.
The bonds are registered with the Thai Bond Market Association but will not be listed. Yoma noted it filed its final registration statement and prospectus with the Office of the Securities and Exchange Commission of Thailand, and the filing has become effective on Nov. 17.
As previously reported, the company launched a roadshow on Sept. 21 for the proposed issue. At that time, it was said that the bonds would have tenors of three, four and five years.
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.
| Issuer: | Yoma Strategic Holdings Ltd.
|
| Guarantor: | Credit Guarantee and Investment Facility
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| Amount: | 1.7 billion baht
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| Issue: | Bonds
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| Arranger: | Bangkok Bank PCL
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| Registrar: | Thailand Securities Depository Co., Ltd.
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| Counsel to issuer: | S.P. & Louis Law Office Ltd.
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| Adviser: | Twin Pine Group Co.
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| Subscription date: | Nov. 21
|
| Settlement date: | Nov. 22
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| Rating: | TRIS Rating Co., Ltd.: AAA
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| Distribution: | Private placement
|
|
|
| First tranche
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| Amount: | 1.275 billion baht
|
| Maturity: | Nov. 22, 2026
|
| Coupon: | 6.09%
|
|
|
| Second tranche
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| Amount: | 425 million baht
|
| Maturity: | Nov. 22, 2028
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| Coupon: | 6.57%
|
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