Thai Beverage Y92 (ThaiBev) announced that it has entered into a five-year term loan agreement with Mizuho Bank, Singapore Branch and Sumitomo Mitsui Banking Corporation Singapore Branch for an amount of JPY 66 billion ($609.3 million) to repay existing debt due in Feb 2024.
The drawdown period is from Feb 27, 2024 to Mar 5, 2024.
The loan repayments will be in three instalments on the 36th month, 48th month and 60th month, respectively after the drawdown date. This loan is unsecured.
Interest bearing debt to equity ratio is less than or equal to 3:1, based on the audited consolidated financial statement.
The group says that it has a cross-currency swap and interest rate swap credit line that it can consider using to mitigate foreign exchange and interest rate risk.
While this loan is not expected to have any material impact on ThaiBev’s financial year, its total debt stands at $214.9 million and gearing comes in at 1.045x as at Sept 30, 2022.
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Shares in ThaiBev closed at 57 cents on Sept 19.
