Thai Tap Water board OKs sale of up to 7.5 billion baht of debentures

By Jennifer Chiou

New York, Dec. 4 - Thai Tap Water Supply PCL said that its board of directors passed a resolution during its Oct. 22 meeting to approve the company's issue of up to 7.5 billion baht of debentures.

The company noted that proceeds will be used to repay the existing long-term loans to lenders and/or cover the plant enhancement.

Thai Tap Water also said that if the group of lenders had approved all of its requests, the total amount of debt instruments to be issued would not have been more than 1.5 billion baht. Because the group of lenders approved some of its requests, the total amount to be issued shall be not more than 7.5 billion baht.

The Nakhon Pathom, Thailand-based company is engaged in the production and distribution of tap water.

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