Eureka Design Public Company Limited announced that it expects to receive THB 1 billion in funding from Advance Capital Partners Asset Management Private Limited, ZICO Asset Management Pte. Ltd.

Eureka Design Public Company Limited announced private placement of senior unsecured convertible debentures for gross proceeds of THB 1,000 million on February 28, 2022. The transaction will include participation from Advance Opportunities Fund, a fund managed by Advance Capital Partners Asset Management Private Limited and Advance Opportunities Fund I, a fund managed by ZICO Asset Management Pte. Ltd. The company will receive funding in three tranches.

The company will receive THB 300 million in its first tranche, THB 300 million in its second tranche and THB 400 million in its third tranche. The debentures will bear interest rate of 0.5% and interest payable in 6 months. The debentures will mature 3 years after issuance of each tranche.

The debentures are unsubordinated and unsecured. The debentures are convertible into equity shares not lower than 90% of the market price. The transaction has been approved by the board of directors of the company, and is subject to approval in general annual shareholder meeting expected to be held on April 1, 2022.