Thai Beverage said on Friday that it increased the capital in direct, wholly owned subsidiary International Beverage Holdings Ltd. (IBHL) and in BeerCo Ltd., a direct wholly owned subsidiary of IBHL.
IBHL’s issued and paid-up share capital was increased by HK$14.54 billion (US$1.86 billion or S$2.54 billion) raising the total to HK$59.43 billion, with the increase financed by Thai Beverage’s debenture issue earlier in the week, it said in a filing to SGX after the market close on Friday. .
BeerCo’s issued and paid-up share capital was increased by US$1.86 billion, bringing its total to US$4.89 billion, it said. That increase was financed by IBHL, utilizing the capital injection from Thai Beverage, it said.
BeerCo used the capital injection for bank loan repayment, the filing said.
Thai Beverage said on Wednesday that it issued debentures with an aggregate principal amount of 77.0 billion Thai baht (US$2.38 billion or S$3.25 billion), with fixed coupon rates ranging from 2.60 percent to 4.16 percent and seven tenors ranging from two years to 10 years.