Business
Corporate bonds issuance in Thailand : Berli Jucker and Siam Cement top raisers
Thailand saw one of the largest corporate bond issuance in the third quarter this year when Berli Jucker pcl, completed the first issuance, raising US$1.62bil.
Thailand saw one of the largest corporate bond issuance in the third quarter this year when Berli Jucker pcl, a company involved in consumer staples, packaging and healthcare products, completed the first issuance involving several tranches on Aug 31, raising US$1.62bil.
This was followed by a further US$785.25mil in bonds completed at the beginning of this month.
The bond issuances were part of a US$6.02bil programme of bond sales, a rights issue and a private placement to refinance the company’s debt following the acquisition of Big C Supercenter pcl, which raised its debt to equity ratio to 4.98 times.
In October, shareholders approved the US$494mil rights issue.
Berli Jucker, the flagship retail business of the Sirivadhanabhakdi family, whose head is billionaire Charoen Sirivadhanabhakdi, acquired French supermarket operator Casino Guichard-Perrachon SA’s 58.6% stake in Big C earlier this year and bought out the other shareholders in May via a tender offer that valued the hypermarket chain at a total of US$5.86bil.
Source: Berli Jucker, Siam Cement hog limelight in Thailand – Business News | The Star Online
Business
Large Shopping Malls in Bangkok Will Be Closed until July 25th
Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.
BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.
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Business
Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak
The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.
The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.
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