Good deal: A taxi driver waits for his customers next to the logo of Big-C department store in central Bangkok. – Reuters
THAILAND saw one of the largest corporate bond issuances in the third quarter this year when Berli Jucker pcl, a company involved in consumer staples, packaging and healthcare products, completed the first issuance involving several tranches on Aug 31, raising US$1.62bil. This was followed by a further US$785.25mil in bonds completed at the beginning of this month.
The bond issuances were part of a US$6.02bil programme of bond sales, a rights issue and a private placement to refinance the company’s debt following the acquisition of Big C Supercenter pcl, which raised its debt to equity ratio to 4.98 times. In October, shareholders approved the US$494mil rights issue.
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