Thailand’s Siam Cement to offer up to 10 billion baht of debentures

By Marisa Wong

Morgantown, W.Va., Sept. 18 – Siam Cement PCL said it plans to issue up to 10 billion baht of debentures on Nov. 2.

The debentures will mature on Nov. 1, 2019 and will have a fixed coupon of 3.4%.

Proceeds will be used to redeem an existing issue of debentures totaling 10 billion baht, which matures on Nov. 1, 2015.

The new debentures will be sold to holders of the existing debentures at a rights offering ratio of 1 to 1. New debentures not allotted to holders of the debentures to be redeemed will be offered to holders of the company’s other existing debentures and to individual investors who are not Siam Cement debentureholders.

Bank of Ayudhya PCL, Bangok Bank PCL, Kasikorn PCL, Krung Thai Bank PCL and Siam Commercial Bank PCL are the underwriters.

The offer period will be Oct. 5 through Oct. 30.

The cement company is based in Bangkok.

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