Thai Airways International has issued 7 billion baht ($228 million) in debentures through three tranches to refinance its debt.
Under the placement, seven million units are issued at 1,000 baht per unit. The first tranche, which has 4 million units, has a 4.51% fixed rate per annum with a five-year tenor to October 2017.
The second tranche, which has 1.5 million units, has a 4.70% fixed rate per annum with a seven-year tenor to October 2019.
The third tranche, which has 1.5 million units, has a 4.90% fixed rate per annum with a 10-year tenor to October 2022.
The Siam Commercial Bank is the underwriter of the issuance.
In April 2010, Thai's board approved the issuing of debentures worth up to 40 billion baht within five years to pay down debt.
The latest issuance brings the carrier's total debentures issued to 21.5 billion baht under its five-year programme to 2015. Thai issued 3 billion baht debentures through two tranches in February this year and 3 billion baht debentures in March.