True Move H reports strong investor interest in Bt13-bn debenture issue

New debentures issued by True Move H worth Bt13 billion received overwhelming interest from investors, the company said in a statement.
William Harris, group chief financial officer of True Corporation, said True Move H Universal Communication Company launched a long-term debenture issuance during the April 27-28 and May 2-3 periods to institutional and high-net-worth investors.
The debentures were successfully issued on Thursday with strong demand from investors, he said.
The debentures consist of a five-year tenor with a coupon rate of 4.50 per cent, a seven-year tenor with 5.00 per cent, 10-year tenor with 5.50 per cent, and 12-year tenor with 5.75 per cent. 
For all tenors, the debentures are embedded with a call option right to early redemption at any coupon payment date after the first anniversary of the debenture issue. 
On April 10, TRIS Rating assigned a “BBB+” rating with “stable” outlook to the debentures. 
The proceeds from this issuance will be used to fund investment, repay matured bills of exchange and/or debentures, expand the business, and fund working-capital requirements for the company and its subsidiaries that operate mobile-phone services.
The joint lead arrangers of the True Move H debentures are Bangkok Bank, Kasikornbank, Krungthai Bank and Siam Commercial Bank.