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Precious Shipping gets $98m from issuance of debenturesPrecious Shipping gets $98m from issuance of debentures

Precious Shipping has issued debentures worth THB3.59bn by way of public offering and received an equivalent amount in proceeds.

Lee Hong Liang, Asia Correspondent

January 26, 2016

1 Min Read
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The entire proceeds were swapped into US dollars amounting to $99.72m, the Bangkok-listed dry bulk shipowner announced.

The debt hold a five-year tenor with interest rate of 5.25% per annum payable on a quarterly basis, and is rated BBB- by Tris Rating Co on 13 November 2015.

In November last year, Precious Shipping’s board had approved an issuance of debentures worth up to THB4bn.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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