“CP ALL” allies With 9 Financial Institutions to Issue Secured and unsubordinated Debentures at the End of March
CP ALL Public Company Limited, the operator of 7-Eleven convenience store in Thailand and the major shareholder of a membership based cash-and-carry trading centers ‘Siam Makro Public Company Limited’ (MAKRO), plans to offer secured and unsubordinated debentures with debentureholders’ representative to institutional and retail investors. The subscription period is between March 24th – 26th 2014. The debentures will have a tenor of 3 years, 5 years, 7 years and 10 years.
Bangkok Bank Public Company Limited, Krung Thai Bank Public Company Limited, The Siam Commercial Bank Public Company Limited, Standard Chartered Bank (Thai) Public Company Limited, Bank of Ayudhya Public Company Limited, Thanachart Bank Public Company Limited, Phatra Securities Public Company Limited are joint lead arrangers of transaction while Capital Nomura Securities Public Company Limited is co-manager of the transaction.
Mr. Korsak Chairasmisak, Chairman of Executive Committee of CP ALL PLC, stated that the Company’s Board of Directors approved the issuance of the debentures worth up to 90 billion baht in total. The Company had previously issued debentures worth 50 billion baht in late October 2013 which gained high interest from investors. This time the Company plans to issue debentures worth up to 40 billion baht. Mr. Kriengchai Boonpoapichart, Vice President of CPALL Plc. stated that the debentures will consist of 3 years, 5 years, 7 years, and 10 years maturity. The minimum subscription amount for institutional investors is THB 100,000 per tranche with multiples of THB 10,000 while that of retail investors is THB 100,000 per tranche with multiples of THB 100,000. Coupon is payable semi-annually. The proceeds from this issuance will be used to refinance loans, so it does not incur new debt for the Company. The debentures subscription period will be on March 24th – 26th 2014 while details and yield will be released later.”
CPALL is rated at A+(tha) by Fitch Ratings (Thailand). Such rating reflects the company’s continuous growth, strong financial performance and cash flow due to most of products are essential to everyday life. Moreover, the rating reflects CPALL’s leading position as the market dominant in retail business. For the past 25 years, CPALL has been the largest operator of convenience stores for every community across Thailand, which operates every day, 24 hours a day. Debentures rating is under evaluation process which will be announced in early March.
For more information, investors may download the prospectus from
www.sec.or.th or contact branches of joint lead arrangers and co-manager or their call centers, Bangkok Bank (except micro branches) at Tel. 1333, Krung Thai Bank at Tel. 1551, The Siam Commercial Bank at Tel. 02-777-7777, Standard Chartered Bank (Thai) at Tel. 1595, Bank of Ayudhya at Tel. 1572, Thanachart Bank at Tel. 1770, Phatra Securities at Tel. 02-305-9559 and Capital Nomura Securities at Tel. 02-287-6641-5.
