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Thai Charoen Pokphand Foods To Issue Up To THB15B Debs-2
Thailand's Charoen Pokphand Foods PCL (CPF.TH) said Thursday its board has approved a plan to issue up to 15 billion baht (US$1=THB41.284) worth of debentures.
The debentures can be issued all at once or divided into many tranches with the maturities not exceeding 10 years, the company said in a filing to the Stock Exchange of Thailand.
CP Foods is a flagship of the country's largest agricultural conglomerate, Charone Pokphand Group (CP.YY).
CP Foods said it will reserve the right to redeem the debentures prior to their maturity.
The company didn't say what the funds would be used for.
The other details of the debentures will be determined later, the company said.
In addition to the debentures, the board also approved a plan to transfer aquatic meat-processing businesses from three of the company's wholly owned units to CP Foods to increase efficiency. The THB1.05 billion transaction will take place this year.
CP Foods also agreed to set up two units - one in Thailand and the other in Malaysia - this year to expand its agricultural businesses.
Shrimp Improvement Systems (Thailand) Co. Ltd. will be established in Thailand with THB8 million registered capital. The company will in operate a shrimp hatchery business.
Calibre Nature Sdn. Bhd. will be set up in Malaysia with 5 million ringgit ($1=MYR3.80), or around THB55.4 million, to operate an aquaculture business including aquatic feed production and distribution.
All issues will be submitted to the company's shareholders at their Oct. 29 meeting. | 
