Thai CPF to sell 6 bln baht bonds in late-June
BANGKOK, May 15 (Reuters) - Charoen Pokphand Foods CPF.BK (CPF), Thailand's biggest chicken exporter, planned to sell 6 billion baht ($185 million) of bonds next month to refinance debt and expand businesses, a bond's underwriter said on Thursday.
The bonds would be issued in 3-year and 5-year tranches and offered to institutional and retail investors, a bank official, who declined to be named, an official at a bond's underwriter told Reuters.
"The structure of the issue is quite similar to what the firm sold last year," he said, referring to the 6-billion-baht bonds sold in October with the 3-year bonds carrying a coupon of 4.25 percent and 5-year bonds having a 4.90 percent coupon.
Benchmark three-year government bonds were yielding 3.95 percent in the secondary market at 0626 GMT and five-year bonds were yielding 4.09 percent.
The bonds, expected to be rated "A+" by Thailand's TRIS Rating, would be underwritten by Bangkok Bank BBL.BK and top underwriter Kasikornbank KBAN.BK, the official said.
At the midday break, CP Foods shares were down 1.32 percent at 4.50 baht and the overall stock market index .SETI was up 0.57 percent. ($1=32.45 Baht) (Reporting by Arada Therdthammakun; Editing by Louise Heavens)
