In order to refinance the portion of the company's long term debts, Thai Union Frozen Products Public Company Limited (TUF), Thailand's leading processor and exporter of canned and frozen seafood products, successfully offered its debentures in Thai Baht (THB) to a group of institutional and high net worth investors.

The proceeds from this issuance will be mainly used to refinance the portion of TUF's long term debts that will be due later this year as well as optimising the balance of the company's short and long terms debts.

Thiraphong Chansiri, President of Thai Union Frozen, said that TUF had successfully issued THB debentures of three-year, five-year, seven-year and 10-year maturities, which had all been assigned AA-rating by TRIS Rating (Thailand) Limited. KASIKORNBANK Public Company Limited and HSBC are appointed as Joint Lead Arrangers for the debenture issuance.

"Despite the current market volatility, TUF has been able to successfully launch its first THB debentures of the year. This clearly demonstrated investors' high confidence in TUF, Chansiri said.

He said that the success of this debenture offering is a result of the strong confidence the investors have in their solid performance, strong competitiveness and good corporate governance widely recognised in the local and global markets.

This is TUF's fourth time issuing THB debentures since its debut issuance in 2007.