Real estate owner and developer Frasers Property Ltd. unit Frasers Property Holdings (Thailand) Co. Ltd. priced a private placement of up to 5.00 billion Thai baht of debentures, to be issued under its 25.00 billion-baht debt program.
The offering comprises up to 2.00 billion baht of 2.19% debentures due 2021, up to 1.00 billion baht of 2.55% debentures due 2023 and up to 2.00 billion baht of 3.54% debentures due 2028, with interest on each series of debentures payable semiannually.
Frasers expects the debentures to be issued March 7 and will use the proceeds for the repayment of existing debts, for investment and/or for working capital.
Bangkok Bank PCL, Bank of Ayudhya PCL and United Overseas Bank (Thai) PCL will be the joint lead arrangers for the debentures.
As of March 1, US$1 was equivalent to 31.55 Thai baht.
