TTA goes for debentures

TTA goes for debentures

Bangkok: Thoresen Thai Agencies (TTA) is issuing three-year debentures amounting to THB2bn ($59.44m) with a 4.25% coupon rate. The shipping line says it is looking “to capitalize on [the] low interest rate environment”.

Chalermchai Mahagitsiri, ceo and president of TTA, said in a statement: “We are confident that our debentures will be enthusiastically welcomed by the investors, given the current low interest rate environment. There is also a chance that, in order to stimulate the economy, the Bank of Thailand and the commercial banks will lower their interest rates further dung [sic] the rest of this year. Furthermore the volatilities and uncertainties associated with the global economy, the investors are now anxious about the prospects of their stocks and finding it harder to spot investment opportunities with predictable returns. Corporate debentures should now be a quite attractive investment option to them.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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