Hotelier Minor plans B25bn funding in pandemic-hit market
published : 19 May 2020 at 12:38
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.