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Thailand's Siam Cement to offer up to 15 billion baht of debentures
By Marisa Wong
Madison, Wis., Jan. 30 - Siam Cement PCL plans to issue up to 15 billion baht of four-year fixed-rate debentures, according to a notice.
The new issuance will replace the company's existing 10 billion baht of 3.85% debentures due March 30, 2014 that will be retired on April 1. The extra 5 billion baht will be used to support future investments.
The new debentures will be sold to holders of the existing 3.85% debentures at a rights offering ratio of 1 to 1. New debentures not allotted to holders of the 3.85% debentures will be offered to holders of the company's other existing debentures and to individual investors who are not Siam Cement debenture holders.
The offer period will be March 3 through March 31.
Bank of Ayudhya PCL, Bangok Bank PCL, Kasikorn PCL, Krung Thai Bank PCL and Siam Commercial Bank PCL are the underwriters.
The company's board of directors approved the issuance at a meeting on Thursday.
The cement company is based in Bangkok.
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