Berli Jucker sets pricing on Bt22bn bond

Credit: REUTERS/© Athit Perawongmetha / Reuters

Berli Jucker will open subscription to its five-tranche bond in early September to raise up to Bt22bn (US$719m).

SINGAPORE, Aug 28 (IFR) - Berli Jucker will open subscription to its five-tranche bond in early September to raise up to Bt22bn (US$719m).

The four-year tranche of up to Bt4bn will pay 3.00%, the five-year tranche of up to Bt7bn pays 2.65%, the six-year tranche of up to Bt3bn pays 2.86%, the eight-year tranche for up to Bt1bn pays 2.99% and the 10-year non-call five tranche of up to Bt7bn pays 3.32%.

Pricing on the four-year tranche was set earlier and at a higher yield as it is the only tranche being offered to the public.

The other four tranches were priced on August 22 during a bookbuilding session and will be offered to institutional and high-net-worth investors. Price guidance for the five, six, eight and 10NC5 tranches were shown at 2.65%–2.85%, 2.72%–2.92%, 2.89%–3.05% and 3.32%–3.48%, respectively.

Subscription will be held on September 5, when the final tranche sizes will be fixed.

The Thai consumer products maker, rated A+ by Tris, will use the proceeds to refinance a Bt22bn bond that will mature in September. Berli Jucker has another Bt30bn of bonds that mature in March and June.

Bangkok Bank, Kasikornbank, Krungthai Bank and Phatra Securities are joint lead managers.

(Reporting by Kit Yin Boey; Editing by David Holland)

((kityin.boey@thomsonreuters.com; +65 64174549; Reuters Messaging: kityin.boey.thomsonreuters.com@reuters.net))

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