Bangchak Petroleum considers bond deal

Thailand''s Bangchak Petroleum is making moves to raise up to Bt6 billion on the debt capital markets.

Bangchak Petroleum, Thailand's state-owned marketer, distributor and refiner of oil and gas products, is considering raising up to Bt6 billion $136.6 million in the domestic debt markets. Bangchak will use the money to help reschedule its liabilities, currently standing at Bt23 billion.

The company has yet to mandate an arranger or lead manager for the transaction as it is awaiting approval for the proposal, to be decided at a general shareholders meeting on April 18.

Presently, Bangchak says it may issue a range of subordinated, unsecured and unsubordinated debentures with maturities of up to 10 years. It will look at market conditions to decide whether or not it issues in...

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