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Thailand's Siam Cement plans up to 5 billion baht of four-year bonds
By Angela McDaniels
Tacoma, Wash., July 28 - Siam Cement PCL will offer up to 5 billion baht of debentures due Oct. 1, 2014 to holders of its existing debentures and to other individual investors, according to a company notice filed with the Stock Exchange of Thailand.
The board of directors approved the issuance at a meeting on Wednesday.
The subscription period will run from Aug. 30 to Sept. 30, and the debentures will be issued Oct. 1.
The coordinator for the offering will be Siam Commercial Bank PCL. The underwriters will be selected from Siam Commercial Bank, Kasikorn Bank PCL, Bangkok Bank PCL, Bank of Ayudhya PCL and Krung Thai Bank PCL.
The debentures will first be offered to holders of the company's SCC10OA debentures on a par-for-par basis. Any SCC10OA debentures that remain outstanding will be redeemed on Oct. 1.
Up to 80% of any remaining debentures that are not subscribed for will then be offered to individual investors who hold any of the company's other debentures and up to 20% will be offered to other individual investors.
Individual investors who are not existing debenture holders are subject to a cap of 150 million baht of debentures in total and a cap of 5 million baht per investor. Debentures will be offered to these investors only through the head office of Siam Commercial Bank.
For investors who do not hold SCC10OA debentures, the minimum offering amount is THB 1 million baht.
In addition, company management can subscribe for up to 250 million baht of the debentures.
The board also approved a 1.3 billion baht investment to expand Siam Fibre-Cement Co., Ltd.'s production capacity of fiber-cement products.
Siam Cement is a cement company based in Bangkok.
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