Hotelier Minor plans B25bn funding in pandemic-hit market

Hotelier Minor plans B25bn funding in pandemic-hit market

AVANI Hua Hin Resort & Villas is one of the hotels operated by Minor International. (Minor Hotels  photo)
AVANI Hua Hin Resort & Villas is one of the hotels operated by Minor International. (Minor Hotels photo)

SINGAPORE: Thailand's Minor International Plc, which operates brands such as Marriott and Four Seasons, plans to raise a total of 25 billion baht through perpetual bonds, a rights issue and 3-year warrants.

"Amidst the adverse impact on its operations from the global Covid-19 pandemic, MINT (Minor International) is taking a proactive approach to ensure its ability to service its obligations and to maintain its commitment to the quality of he balance sheet," the company said in a statement on Monday. 

The announcement came after the hotel and food group reported a first-quarter loss of 1.77 billion baht, versus a profit of 583.1 million baht a year earlier.

Minor said it has a portfolio of 529 hotels in 56 countries.


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