ThaiBev has entered into a four-year 10 billion baht ($388.9 million) loan agreement with the Bank of Ayudhya Public Company Limited. The loan agreement was made to repay the group’s existing Thai Baht debenture due in March 2023.
The interest rate on the loan agreement is based on the Thai Overnight Repurchase Rate (THOR), including margins. The group will have to repay the facility through four equal instalments of 2.5 billion baht on a semi-annual basis. The first instalment is due on the 30th month after the drawdown period of the loan agreement, which is not later than March 31, 2023.
The loan facility is not expected to have a material impact on ThaiBev’s financial results for this FY.
Shares in ThaiBev closed flat at 67.5 cents on Dec 19.