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Thai Finance Ministry Guarantees Loan for Petroleum Firm.

Bangkok Post (Bangkok, Thailand)

| January 15, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Chatrudee Theparat

Jan. 15--The Finance Ministry will guarantee Bangchak Petroleum Plc's loan of 1.5 billion baht, borrowed from Krung Thai Bank to service debt due this year.

The loan guarantee, approved yesterday by the cabinet, covers part of a three-billion-baht bridging loan the state bank recently agreed to lend on the advice of the Finance Ministry.

The short-term loan, with annual interest of 1.7 percent, would be used to repay the company's euro commercial paper due this month, said Pannee Stawarodom, director-general of the ministry's Public Debt Management Office.

The debt-ridden refinery was not currently in a ...

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Source: HighBeam Research, Thai Finance Ministry Guarantees Loan for Petroleum Firm.