Thai Union Achieves Its Target in Subordinated Perpetual Debentures and Senior Debentures Offerings
Caption: Thiraphong Chansiri, CEO, Thai Union Group PCL.
• Subscription of Thai Union’s subordinated perpetual debentures meets THB 6 billion offering
• Overwhelming demand for 7-year and 10-year Senior Debentures, more than 3.5 times oversubscription
• Strong offering signals that investors have confidence in Thai Union’s business outlook
• Thai Union will use funds from the offering to strengthen its financial structure
Thai Union Group PCL. said its sale of subordinated perpetual debentures had met expectations, with investors taking up both the THB 4 billion offering and additional greenshoe of THB 2 billion. The debenture issuance, to refinance bonds that become due this year so that the company’s total debt will not be changed, will adjust the net debt to equity ratio (ND/E) of 1.35-1.40 times currently to 1.15 – 1.20 times.
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