Mint rides on Bangkok Bank backing to raise $300m

By Morgan Davis
23 Jun 2020

Thai hospitality company Minor International (Mint) used a guarantee from Bangkok Bank to issue a $300m bond this week. The deal structure, which echoes its 2018 debut bond, helped quell investor concerns about how Covid-19 has ravaged the borrower’s business. Morgan Davis reports.

Bangkok-based Mint, which owns hundreds of hotels, restaurants and retail outlets in Thailand, last sold a dollar bond in November 2018. The $300m 4.661% perpetual deal, callable in December 2021, was Mint’s debut and was also guaranteed by Baa1/BBB+/BBB rated Bangkok Bank.

Mint’s first bond was complicated, as ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial