THURSDAY, March 28, 2024
nationthailand

Nam Ngum 2 debentures sold out, given “A/Stable” rating

Nam Ngum 2 debentures sold out, given “A/Stable” rating

Nam Ngum 2 Power Company Limited (NN2) has issued debentures of Bt1 billion, Thanawat Trivisvavet, managing director of CK Power Public Company Limited and a director of NN2 said.

The debentures, with a tenure of three years and five years, come with interest rates of 3.2 per cent per year and 3.6 per cent, respectively, in order to pay off another Bt1 billion of debentures, which is due for payment next month, Thanawat said.
TRIS Rating has given the second round of debentures an “A/Stable” credit rating. 
NN2 is a subsidiary of CKPower that is registered as a juristic entity in the Lao People’s Democratic Republic, with installation capacity of 615 megawatts. It sells all its production to the Electricity Generating Authority of Thailand (Egat).
After the payment is made for existing debentures, NN2 will have a total of Bt13.9 billion worth of outstanding debentures as of October 31. However, the company still has a credit line of Bt2.1 billion available to issue additional debentures, although the firm is yet to schedule the issuance.
“We have received more pre-orders than the amount initially offered, and the debentures have sold out quickly. I am confident the Nam Ngum 2 hydroelectric power plant will be able to produce and deliver electricity to Egat as promised this year,” Thanawat said.

nationthailand