CH. Karnchang successfully issues debentures worth Baht 6 billion to institutional and high-net-worth investors underwritten by three major banks
May 29, 2017
CH. Karnchang successfully launched four lots of senior unsecured debentures worth a total of Baht 6 billion to institutional and high-net-worth investors. The debentures were jointly underwritten by three major banks – Bangkok Bank, Kasikorn Bank and Krungthai Bank – and were graded A- by TRIS Rating.
Bangkok Bank Senior Vice President Corporate Finance Department Prasert Deejongkit, on behalf of the joint underwriters for CH. Karnchang PCL unsecured debentures no. 1/2017, said Bangkok Bank PCL, Kasikorn Bank PCL and Krungthai Bank PCL were highly successful in the selling of the four lots of debentures. The issue attracted strong interest from institutional and high-net-worth investors, with demand up to three times the total issuance of the initial issue size of Baht 4 billion. To fulfil the needs of investors CH. Karnchang increased the issue size to Baht 6 billion.
The four lots of debentures worth a total of Baht 6 billion comprise: four-year debentures at Baht 2.25 billion in issue size, with a 2.97 percent interest rate; seven-year debentures at Baht 1.6 billion in issue size with a 3.80 percent interest rate; 10-year debentures at Baht 1.15 billion in issue size with a 4.19-percent interest rate; and 12-year debentures at Baht 1 billion in issue size with a 4.32 percent interest rate. The debentures were graded ‘A-’ by TRIS Rating on 12 May 2017. Subscriptions opened on 24-25 May 2017 and the three banks issued the debentures on 26 May 2017.
CH. Karnchang Executive Director Prasert Marittanaporn said the company would like to thank all institutional and high-net-worth investors for their interest in purchasing the company’s bonds. This success reflects their confidence in the company and its strong performance. At the end of 2016, the company reported revenue of Baht 47.019 billion with net profit of Baht 2.042 billion. Assets amounted to Baht 94.928 billion and liabilities amounted to Baht 73.074 billion. This success also reflects the company’s leadership in construction and infrastructure development in Thailand and its capacity to undertake large infrastructure construction and specialized projects. The company will use the funds from the issued bonds as working capital to support basic infrastructure developments in Thailand and overseas.
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