Thai hotelier Minor plans THB25 billion cash injection
Thailand based hotel group Minor International plans to THB25 billion ($782 million) to see it through the coronavirus crisis.
It will help bolster the ‘quality of the balance sheet.’
"Amidst the adverse impact on its operations from the global COVID-19 pandemic, Minor International is taking a proactive approach to ensure its ability to service its obligations," the firm said.
The funds will come via bonds, a rights issue and warrants.
It comes after MINT posted a THB1.77 billion loss in the first quarter, compared to a THB583.1 million profit in 2019.
The Minor portfolio features several brands including Anantara and Avani Hotels and Resorts.
It comprises more than 500 hotels across 56 countries in Asia Pacific, the Middle East, Africa, Europe and the Americas.
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