Thai sells Bt1.5bn in unsecured bonds at 4.98%

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Thai Airways International sold 1.5 billion baht (Bt) ($48.8 million) in unsecured bonds, at 4.98%, market sources indicate.

Proceeds from the 12-year offering, which was arranged by CIMB Thai Bank, will be used to pay down debt, purchase assets and for general corporate purposes.

The financing was approved by Thai's board on 16 March.

In April 2010, Thai's board also approved the issuing of debentures worth up to Bt40 billion within five years to refinance its debt.