PTT delays bond issuance
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PTT, the national oil and gas company, will delay bond issuance in light of global economic slowdown.
Surong Bulakul, chief financial officer of PTT, said on Friday that the bond issuance scheduled for this year would be delayed. Due to lower global economic growth, PTT Group would slow down investment in upstream petroleum industry.
Each year, PTT needs about Bt60 billion in refinancing, he said.
"We can't reveal the projects which are subjected to delays. This must be first approved by the board of directors. Mostly, they are in the upstream industry. Aside from economic slowdown, some are faced with regulatory complications," he said.
