CPF Thailand prices Bt17bn multi-tranche bond


SINGAPORE, May 24 (IFR) - CPF Thailand will open five tranches of bonds to institutional investors during a three-day subscription next week to raise up to Bt17bn (US$537.2m).

A four-year tranche for up to Bt4bn was priced at par to yield 2.91%, a six-year tranche for up to Bt2bn was at 3.34%, an eight-year tranche for up to Bt500m was at 3.65%, a 10-year tranche for up to Bt4bn was at 4% and a 12-year piece for up to Bt6.5bn was at 4.18%.

Respective guidance ranges were at 2.91%–3.01%, 3.3%–3.40%, 3.57%–3.67%, 3.86%–4.00% and 4.08%–4.2%.

The Thai agricultural and integrated food services provider, owned by conglomerate Charoen Pokphand Foods, is targeting a minimum size of Bt12bn, with a Bt5bn greenshoe.

Government Savings Bank, Kasikornbank, Krungthai Bank and Siam Commercial Bank are joint lead managers for the deal, rated A+ by Tris. Subscription will start from May 27.

Proceeds will be used to repay debt and fund working capital and general corporate needs.

(Reporting by Kit Yin Boey; Editing by Vincent Baby)

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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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