Thai PTTEP sets coupons on 40 bln baht in bonds
BANGKOK, May 13 (Reuters) - Thailand's PTT Exploration and Production (PTTE.BK) said on Wednesday it had finalised details on a four-tranche bond worth a total 40 billion baht ($1.16 billion) aimed at retail investors and domestic institutions.
The tranche offered to domestic institutions, worth 10 billion baht, included 10-year bonds with a coupon of 4.8 percent plus four-year bonds with a coupon of 3 percent for the first two years and 4 percent for the remaining years, Chief Executive Anon Sirisaengtaksin told a news conference.
Alternatively, investors could opt in the final two years for the six-month Thai baht fixing rate THBFIX, now about 1.95 percent, plus 125 basis points, fund managers close to the deal said.
The 30 billion baht retail tranche included a three-year bond with a coupon of 3.25 percent and a five-year issue with a coupon of 4.0 percent, PTTEP said in a statement.
Subscriptions run from May 25 to May 28. The bonds are rated "AAA" by Thailand's TRIS Rating.
Proceeds from the issue will help finance PTTEP's five-year plans from 2009 involving investments and operating budgets of 485 billion baht and focusing on 40 projects in existing petroleum fields in 13 countries, it said.
The issue's underwriters include Bangkok Bank BBL.BK, Krung Thai Bank KTB.BK, Siam Commercial Bank SCB.BK, Kasikornbank KBAN.BK and Barclay Capital Securities (Thailand). ($1=34.55 Baht) (Reporting by Pisit Changplayngam; Writing by Viparat Jantraprap; Editing by Alan Raybould)
