CPFTH issues B20bn in bonds

CPFTH issues B20bn in bonds

CPF Thailand's processed chicken factory in Nakhon Ratchasima.
CPF Thailand's processed chicken factory in Nakhon Ratchasima.

CPF Thailand Plc, a subsidiary in which Charoen Pokphand Foods Plc (CPF) holds a 99.99% stake, reported that it issued 20 billion baht in bonds through five series of debentures to institutional and high-net-worth investors from Aug 17 to 19.

The issuance had seven lead arrangers: Krungthai Bank, Kasikornbank, Siam Commercial Bank, Government Savings Bank, CIMB Thai Bank, TMB Bank and Phatra Securities.

The company said the issuance was 2.5 times oversubscribed, reflecting investor confidence and potential for growth. The funds will be used primarily to expand CPF's presence in the agro-industrial and food sectors.

In the first quarter of 2020, CPF Thailand reported revenue of over 144 billion baht, a 7% year-on-year increase. The firm has a credit rating of A+ from Tris Rating.

Paisan Chirakitcharern, chief financial officer of CPF, said the response from investors was impressive, causing the company to exercise a greenshoe option to support demand.

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