Fitch: ThaiBev#s Larger Issuance Won#t Affect Rating on Bond

Stocks and Financial Services Press Releases Tuesday September 11, 2018 17:43
Bangkok--11 Sep--Fitch Ratings

Fitch Ratings (Thailand) Limited says there will be no rating impact on the 'AA(tha)' rating on Thai Beverage Public Company Limited's (ThaiBev, BBB-/AA(tha)/Stable) new senior unsecured debentures after the company increased the size of the issuance to THB80 billion from THB70 billion. The additional THB10 billion will not add to the company's debt burden as proceeds from the bonds will be used to refinance existing bridging facilities.

The agency had previously factored in an issue size of THB70 billion for the bonds, and assigned them a rating of 'AA(tha)', in line with ThaiBev's National Long-Term Rating, on 3 August 2018. The bonds will be issued in seven tranches with two- to 10-year tenors.

For more information on assignment of the rating on the bonds, please see Fitch Rates ThaiBev's Unsecured THB Debentures 'AA(tha)', published 3 August 2018.

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