Briefs

Thai Oil issuing senior unsecured notes|towards financing of business expansion

Thai Oil is issuing an undisclosed amount of senior unsecured notes for partial financing of its expansion plan.

Moody's Investors Service rated the bond issue "Baa1". Standard & Poor's Ratings Service assigned "BBB" to the proposed issue.

Thai Oil has a capital expenditure programme totalling US$1.1 billion (Bt33 billion) over the next five years for the purposes of expanding and upgrading its refinery, petrochemical and solvent businesses. The company is also constructing two power plants to supply 220 megawatts domestically under an off-take agreement with the government.

Debt obligations worth $560 million are due this year and next.

Chic offers new Sealy mattresses

Chic Republic and Sealy have jointly introduced new mattresses using advanced spring technology.

Kijja Pattamasattayasonthi, president and CEO of Chic Republic, a home fashion chain, and Tarun Puri, sales and marketing director of Jaspal and Sons, the manufacturer of premium mattresses under the Sealy brand, said the new Francesca mattresses would be sold only at Chic Republic.

The mattress uses an advanced technological spring innovation called DSi (dual support individual innerspring) and hourglass posture pocket technology. The spring system was exclusively developed by physiologists for Sealy USA. The distinctive features allow independent weight support, effectively reducing vibration from body movements to enhance sleep comfort.