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TTA plans B8bn issue

Back Nov 14, 2006

SHIPPING: Thorensen Thai Agencies Plc (TTA) plans to sell bonds worth up to eight billion baht by the end of this year to refinance debt and expand businesses, fund managers said yesterday.

The company is surveying demand but has yet to decide on the bond maturities and specific timeframe.One fund manager said the company might offer the bonds in three tranches of three, five and seven years but an underwriter declined to confirm details.

Siam Commercial Bank, Kasikornbank and Bangkok branch of Deutsche Bank would underwrite the bonds, the fund managers said.

The issue is part of a plan announced in October to sell up to 10 billion baht of bonds to refinance existing secured bank debt and for further investment.

TTA shares closed yesterday on the SET at 26.50 baht, down 75 satang, in trade worth 74.61 million baht. REUTERS

 

Source: Bangkok Post Tuesday November 14, 2006