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Bangkok Bank and Asian Property sell B1.5 B in debentures
Bangkok Bank and Asian Property Development celebrated the success of the sale of the company’s 3.6-year debentures of Baht 1.5 billion.
The debentures, which have been assigned credit rating of A-, offer a return of 4.5 percent per annum in the first three years and 5.8 percent per annum for the final six months. Interest will be paid every three months.
Proceeds raised from the issuance of the debentures will be used to repay loans, redeem debentures, purchase land for development, support business operations, and reduce interest rate volatility risk in the long term.
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