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Thailand's Siam Cement to issue $158 mln debt

Thu Apr 24, 2008 10:08pm EDT
 
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SINGAPORE, April 25 (Reuters) - Siam Cement SCC.BK, Thailand's top industrial conglomerate, said on Friday it plans to raise an additional 5 billion baht ($158 million) in debt.

The firm said in January it would sell up to 20 billion baht of 4-year bonds to refinance debt.

"Usually, we raise about 20-25 billion baht. Probably this year will be around 25-30 billion baht," said Kan Trakulhoon, president and chief executive of Siam Cement.

He said the firm's net debt stands at around 100 billion baht, of which 80 percent is denominated in the Thai currency. (Reporting by Yvonne Cheong, writing by Koh Gui Qing; editing by Jennifer Tan)

 

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