Thai Union to issue USD 132 million in debentures to boost growth potential

Published on
October 11, 2019

Thai Union Group is working on a plan to finance its growth in the future.

In November, the company will issue up to THB 4 billion (USD 131.7 million, EUR 120 million) in debentures with an additional greenshoe of THB 2 billion (USD 65.8 million, EUR 60 million) in order to “strengthen its financial structure and build a long-term financial foundation,” Thai Union said in a statement on 9 October.

“Over our more than 40-year history, we have built a strong and successful company with a global footprint and a portfolio of 14 brands around the world,” Thai Union CEO Thiraphong Chansiri said in the statement. “Issuing these debentures will allow us to not only further strengthen our financial footing, but continue expanding our business as we pursue a path of consistent, solid growth.”

The company retains the right to call the debentures after five years, or upon other conditions in accordance with the terms and conditions of the debentures as specified in the prospectus. The coupon is 5 percent per annum for the first five years and will be payable quarterly. The subscription period is expected to be between 26 to 28 November this year. Bangkok Bank PCL, Krung Thai Bank PCL, Siam Commercial Bank PCL and Phatra Securities PCL have been appointed joint-lead arrangers, said Thai Union.

Tris Rating gives Thai Union an A+ with a stable outlook and its subordinated perpetual debentures an A-.

Reporting from Hanoi, Vietnam

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