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True’s TUC to issue unsecured debentures

Nov 28. 2019
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By THE NATION

True Move H Universal Communication Company Limited (TUC), a subsidiary of True Group, subsidiary, is preparing to issue unsubordinated and unsecured debentures with debenture holders’ representative no. 4/2019 for public offering.

The company also announced three series of TUC’s debentures with fixed coupon rate from 3.50 per cent up to 4.70 per cent per annum. TUC and its debentures were assigned “BBB+” rating with a “Stable” outlook by TRIS Rating on November 5, 2019. 

Bangkok Bank, Kasikornbank, Siam Commercial Bank, CIMB THAI Bank and Thanachart Bank are the joint lead arrangers for the debenture issuance. 

Yupa Leewongcharoen, True Group Chief Financial Officer, said TUC had announced a fixed coupon rate for the three series of debentures and expects the subscription period to be from December 16 to 18. 

The debentures of TUC are unsubordinated and unsecured debentures with debenture holders’ representative, and offer quarterly coupon payments with a minimum subscription amount of Bt100,000 and multiples of Bt100,000 for additional subscriptions. 

Proceeds from this debenture issuance will be used to pay telecommunication frequency license fees and to fund working capital requirements.

Three series of TUC’s debentures which will be offered to general investors are;

1. TUC’s debenture Series 1: tenor 3 years, fixed coupon rate of 3.50% per annum

2. TUC’s debenture Series 2: tenor 4 years 3 months, fixed coupon rate of 4.10% per annum

3. TUC’s debenture Series 3: tenor 5 years 6 months, fixed coupon rate of 4.70% per annum

The company is in the process of filing process of this debenture issuance with the Securities and Exchange Commission (SEC) and expects the SEC to announce the filing effective date by mid-December.

The registration statement and prospectus may be downloaded at the website of the SEC at www.sec.or.th or obtained from the branches of any of the five arrangers: Bangkok Bank (tel1333); Kasikorn BANK PCL (tel 888 8888 press 8190); Siam Commercial Bank (tel [02] 777 6784); CIMB THAI (tel [02] 626 7777) and Thanachart Bank (tel 1770).

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