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Ticon Industrial completes issuance of 5B baht of debentures

Ticon Industrial Connection Pcl completed March 14 its issuance of debentures worth 5 billion Thai baht.

The unsubordinated and unsecured debentures were issued in three series. The series 1 debentures had a fixed rate of 2.20% and a three-year term, maturing March 14, 2021; series 2 was issued at a 2.75% fixed rate and five-year term ending March 14, 2023; and the series 3 debentures had a 3.58% fixed rate and a 10-year term, maturing March 14, 2028.

The annual coupon rate on the debentures will be paid every Sept. 14 and March 14, the Thai industrial developer said in a filing.

Bangkok Bank PCL, CIMB Thai Bank PCL and United Overseas Bank (Thai) PCL were the underwriters for the offering.

As of March 14, US$1 was equivalent to 31.13 Thai baht.