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.


Do you like the content of this article?
COMMENT

Censure debate

The opposition camp is gearing up for a no-confidence debate, the second of its kind against the government.

07:22

Phuket eases restrictions

The provincial communicable disease committee in Phuket has agreed to lift the mandatory 14-day quarantine period for people arriving from Bangkok and Samut Prakan.

07:00

Chiang Rai and Ratchaburi draw tough opponents for ACL battles

Thai League 1 clubs Chiang Rai United and Ratchaburi have been handed tough assignments for the play-off stage of the 2021 AFC Champions League.

06:33