By The Nation
PTTEPTC is offering two hybrid securities in conjunction with a tender offer for the outstanding US$1-billion (Bt33.9 billion) hybrids that its listed parent company issued in 2014.
Meanwhile, Moody’s Investors Service has assigned ‘Baa3’ ratings to the two subordinated perpetual capital securities to be issued by PTTEPTC.
The hybrid securities will be fully and unconditionally guaranteed by PTTEP on a subordinated basis.
Moody’s outlook on the ratings is ‘stable’.