Singha Estate is ready for convertible bond conversion with support from Boonrawd Group and leading banks to build sustainable growth
Singha Estate Public Company Limited reaffirms its strong financial positioning and announces readiness for the conversion of convertible debentures worth US$180 million, which were expired on 20 July 2020.
Mr. Naris Cheyklin, Chief Executive Officer of Singha Estate Public Company Limited, or “S” said the company receives financial supports from leading financial institutes, which will help it carry the financial cost similarly to the cost of convertible bond issuance. This will enable the conversion of convertible bonds have no impact on the company’s cashflow and financial positioning, while the net interest-bearing debt to equity ratio will be maintained at 0.86 times.
“With the efficient financial management and low net interest bearing debt to equity ratio, banks are confident to lend us financial support for the business expansion. Moreover, Boonrawd Group, our largest shareholder, remains confident in Singha Estate’s future prospect and maintains its shareholding at the comparable level,” he said.