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.”