Thailand’s Rich Asia Steel plans up to 2 billion baht debentures

By Marisa Wong

Madison, Wis., Feb. 27 – Rich Asia Steel PCL is proposing to issue up to 2 billion baht of debentures, according to a company announcement.

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 shareholders’ approval at an upcoming meeting.

The steel company is based in Bangkok.

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