By Marisa Wong
Morgantown, W.Va., Nov. 21 – KNM Group Bhd. issued 2.78 billion baht of 3% five-year bonds on Friday, according to a Bursa Malaysia announcement.
In September, the company announced plans to issue up to $80 million equivalent of Thai baht-denominated bonds.
The fixed-rate bonds are guaranteed by Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank, as previously noted.
Proceeds will be used to finance future expansion and working capital expenses for Impress Ethanol Co. Ltd.’s bio-ethanol plants. KNM Renewable Energy Sdn. Bhd. acquired Asia Bio-Fuels Ltd. and Asia Biofuels II Ltd. in May. Asia Biofuels owns a 72% equity interest in Impress Ethanol.
KNM is an oil and gas company based in Seri Kembangan, Selangor, Malaysia.
| Issuer: | KNM Group Bhd.
|
| Guarantor: | Credit Guarantee and Investment Facility
|
| Issue: | Fixed-rate bonds
|
| Amount: | 2.78 billion baht
|
| Maturity: | Nov. 18, 2021
|
| Coupon: | 3%
|
| Settlement date: | Nov. 18
|
| Rating: | TRIS Rating Co., Ltd.: AAA
|
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