Siam Commercial Bank offers ThaiBev warrants

Siam Commercial Bank is offering 534.3 million in warrants in Thai Beverages with a three-year tenor.

The Asian primary markets were treated to an unusual equity deal on Wednesday when Siam Commercial Bank offered $296 million of notional principal in Thai Beverages through a European-style warrants placement.

Kindest Place Groups, a non-afiliated special purpose vehicle, was the issuer of the warrants. SCB was the secondary seller of the warrants, according to a source close to the deal.

Thailand’s oldest bank offered a total of 534.3 million warrants on the basis of one warrant per share. Pricing was fixed at $0.02328.

The exercise price has been fixed at S$0.9941 $0.72996, representing a 31.7% premium to ThaiBev’s closing price of S$0.755...

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