— Mitsubishi Motors Thai subsidiary, Mitsubishi Motors (Thailand) Co., Ltd. (MMTh) today announced that the terms of a local currency bond issue guaranteed by The Bank of Tokyo-Mitsubishi, have been finalized and registered with the Securities and Exchange Commission in Thailand.
This bond issue has been included in Mitsubishi Motors' financing plan for the current fiscal year. The proceeds will be used for capital expenditure in the production facility and other items for the 1-ton pick up Triton which is the main model produced at MMTh's Laem Chabang Plant.
Also, this is the first bond issuance for MMTh and will be covered by a kind of bond insurance, which has been established in Japan to aid the development of Asian currency bond markets. This capital will provide MMTh a financial structure highly immune to the volatility of the foreign exchange markets, and it will raise the presence of both the company and the Triton model.
Details of the offering:
| Issuer: |
Mitsubishi Motors (Thailand) Co., Ltd. |
| Market: |
Thai bond market |
| Amount: |
5bn Baht |
| Maturity: |
3 year bullet repayment |
| Issue date: |
December 8, 2005 (scheduled) |
| Guaranteeing bank: |
The Bank of Tokyo-Mitsubishi, Ltd. |
| Underwriters: |
Lead arranger: The Siam Commercial Bank PCL
Co-lead arrangers: Bangkok Bank PCL, Kasikornbank PCL |
