Siam City Cement plans refinancing bond

Siam City Cement, Thailand’s second-largest cement producer, has been on the road to meet fixed-income investors for a planned sale of THB13bn (US$377.8m) bond.

The proceeds are expected to refinance maturing debt, including bridging loans for acquisitions in Sri Lanka and Vietnam. The company had obtained a THB18.9bn 12-month bridging loan to purchase a 65 per cent stake in Holcim Vietnam in January. That was in addition to a US$400m 12-month bridging loan raised in August to acquire Holcim Lanka. An outstanding THB4bn four-year 3.79 per cent bond is also due to mature on 14 June.  (Source: Reuters)