Thailand's Areeya Property plans up to 3 billion baht debentures

By Marisa Wong

Madison, Wis., Jan. 29 - Areeya Property PCL announced it plans to issue up to 3 billion baht of debentures. The company's board of directors approved the proposal at its meeting on Tuesday.

The debentures may be offered in one or more tranches and may be denominated in baht or other currencies. Pricing will be based on market conditions.

The debentures are subject to shareholders' approval at an upcoming extraordinary general meeting.

Proceeds from the proposed debentures will be used as working capital and to help expand the company's business.

Areeya is a real estate developer based in Bangkok.

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