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Thai Bangchak to sign $868 mln loan deal

Mon Jun 30, 2008 11:56pm EDT

BANGKOK, July 1 (Reuters) - Small Thai refiner Bangchak Petroleum PCL BCP.BK will sign an $868 million syndicated loan with four Thai and two foreign banks on Wednesday, according to a one of the banks.

Siam Commercial Bank SCB.BK said in a press release the other institutions involved were Bank of Ayudhya BAY.BK, TMB Bank TMB.BK, Siam City Bank SCIB.BK, ABN-Amro Bank AAH.AS and Mizuho Corporate Bank.

It gave no more details, but a bank official said the proceeds would be used to refinance the company's debt.

Bangchak, majority-owned by the Finance Ministry and state-controlled oil and gas firm PTT PCL PTT.BK, produces an average 60,000 barrels of refined products per day (bpd), about half of its capacity.

On Monday, Bangchak shares ended up 0.86 at 11.70 baht, while the main index .SETI fell 0.92 percent. ($1=33.38 Baht) (Reporting by Arada Therdthammakun; Editing by Ed Cropley)



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