Thailand’s Loxley eyes up to 3 billion baht of debentures

By Marisa Wong

Morgantown, W.Va., Feb. 29 – Loxley PCL is proposing an additional up to 2 billion baht of debentures, according to a company announcement.

The company previously obtained shareholder approval to issue up to 1 billion baht of debentures. If the additional issue is approved, the debenture program would have a maximum size of 3 billion baht.

The debentures may be denominated in baht or other currencies.

Long-term debentures will have maturities of no more than 10 years. The company may also issue short-term debentures.

The company plans to use proceeds for its business expansion and refinancing.

The proposed issuance is subject to shareholder approval at an upcoming meeting.

The trading conglomerate is based in Bangkok.

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