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Thai Airways and SCB Sign 8 billion Baht Loan Agreement

Travel News Asia Latest Travel News Podcasts Videos Tuesday, 20 July 2010

Thai Airways International has signed a loan agreement with Siam Commercial Bank (SCB) for a 7-year term loan worth 8 billion baht and an amendment of 5 billion baht loan granted earlier to the company.

Mr. Piyasvasti Amranand, President of Thai Airways International, said that this loan is part of its fundraising plans designed to strengthen the company's business operations, THAI has looked to SCB for financial solutions because their proposed conditions have been proven effective, and because we have confidence in the bank's expertise.

Dr. Vichit Suraphongchai, Chairman of the Executive Committee, Siam Commercial Bank added, We are pleased that THAI has expressed its confidence in thebank and allowed us to provide them with an 8 billion baht term loan, including an amendment of 5 billion baht credit facility granted earlier. This financing is in line with the bank's policy of becoming The premier universal bank and total solution provider serving large corporations. This collaboration also marks a mutual effort between the two institutions in propelling sustainable success, and reaffirms the strong ties between the two companies, ties that go back more than 30 years.

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