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GULF prepares to launch inaugural 4-year and 7-year Thai Baht bonds offering to retail investors via “Pao Tang” application and 9 financial institutions in August


GULF plans to issue a Public Offering of 4- and 7-year Thai Baht debentures. The debentures are rated A- by TRIS Rating Co., Ltd., reflecting the company's strength and stability in the energy, infrastructure and utilities, and digital businesses. The offering is expected to be in August 2022 through the “Pao Tang” application and via 9 other financial institutions.

Gulf Energy Development Public Company Limited or GULF, an internationally recognized energy company, is preparing for the offering of name-registered unsubordinated and unsecured debentures with a debenture holders’ representative to retail investors for the first time. The offering will consist of 2 tranches of digital bonds, Tranche 1 (4-year digital bond) and Tranche 3 (7-year digital bond), and 2 tranches of traditional bonds, Tranche 2 (4-year bond) and Tranche 4 (7-year bond) (all 4 tranches are collectively called the “Debentures”). The company and lead arrangers are in the process of seeking an approval from The Securities and Exchange Commission, Thailand (SEC). The Debentures have been rated “A-“ by TRIS Rating Co., Ltd. on June 21, 2022, while the company has been rated “A” with “Stable” outlook. The offering is expected to be in August 2022.

GULF prepares to launch inaugural 4-year and 7-year Thai Baht bonds offering to retail investors via “Pao Tang” application and 9 financial institutions in August

The public offering of digital bonds (Tranches 1 and 3) will be made through the application "Pao Tang" of Krungthai Bank Public Company Limited with a minimum subscription amount of 1,000 Baht with subsequent multiples of 1,000 Baht. For the traditional bonds (Tranches 2 and 4), retail investors will be able to subscribe through 9 financial institutions as follows: Bangkok Bank Public Company Limited, Bank of Ayudhya Public Company Limited, KASIKORNBANK Public Company Limited, The Siam Commercial Bank Public Company Limited, CIMB Thai Bank Public Company Limited, TMBThanachart Bank Public Company Limited, United Overseas Bank (Thai) Public Company Limited, Kiatnakin Phatra Securities Public Company Limited, and Maybank Securities (Thailand) Public Company Limited with a minimum subscription amount of 100,000 Baht with subsequent multiples of 100,000 Baht.

GULF prepares to launch inaugural 4-year and 7-year Thai Baht bonds offering to retail investors via “Pao Tang” application and 9 financial institutions in August

Ms. Yupapin Wangviwat, Chief Financial Officer of GULF, revealed, “The Company is confident that the Debentures will be well received by retail investors who are looking to invest in good credit issuer with attractive returns. GULF has also facilitated investors with various distribution channels. The offering will be accessible through digital channels via the "Pao Tang" application for digital bonds, and at the same time through 9 financial institutions for traditional bonds.”

“The proceeds from this issuance will be used to partially repay existing loans, to be used as working capital and to support business expansion both domestically and internationally,” said Ms. Yupapin.

Gulf Energy Development Plc. is a holding company with core businesses across 5 categories: 1. Power Generation Business, 2. Renewable Energy Business, 3. Gas Business, 4. Infrastructure and Utilities Business, and 5. Digital Business. The various projects that the Company invests in will generate stable revenue streams as they are backed by long-term contracts with reputable and credible institutions, including government agencies such as the Electricity Generating Authority of Thailand (EGAT), the Department of Highways and the Industrial Estate Authority of Thailand, etc.
 

GULF prepares to launch inaugural 4-year and 7-year Thai Baht bonds offering to retail investors via “Pao Tang” application and 9 financial institutions in August

For the first quarter of 2022, GULF had total revenues of THB 22,453 million, an increase of 125% from the same period in 2021, and core profit of THB 3,257 million, an increase of THB 867 million or 36% from quarter 1 of 2021. Net profit attributable to the parent company in Q1/2022 was THB 3,395 million, an increase of 108% from THB 1,632 million in Q1/2021. As of March 31, 2022, the Company's net interest-bearing debt to equity was 1.77 times.

Interested investors may find more details in the prospectus on SEC’s website (www.sec.or.th). Those interested in the digital bonds may download and register an account with the "Pao Tang" application. The instructions can be found at www.krungthai.com/th/krungthai-update/promotion-detail/916 or contact Krungthai at 02-111-1111. As for the traditional offering, interested investors may contact the following 9 financial institutions:

1. Bangkok Bank Public Company Limited (except Micro Branches) Tel. 1333
2. Bank of Ayudhya Public Company Limited Tel. 1572
3. KASIKORNBANK Public Company Limited Tel. 02-888-8888 ext. 819*
4. The Siam Commercial Bank Public Company Limited Tel. 02-777-6784
5. CIMB Thai Bank Public Company Limited Tel. 02-626-7000
6. TMBThanachart Public Company Limited Tel. 1428 press #4
7. United Overseas Bank (Thai) Public Company Limited Tel. 02-285-1555
8. Kiatnakin Phatra Securities Public Company Limited** Tel. 02-165-5555
9. Maybank Securities (Thailand) Public Company Limited Tel. 02-658-5050
* Including KASIKORN Securities Public Company Limited as selling unit of KASIKORNBANK 
** This includes Kiatnakin Phatra Bank Public Company Limited as the selling unit of Kiatnakin Phatra Securities Public Company Limited.

GULF prepares to launch inaugural 4-year and 7-year Thai Baht bonds offering to retail investors via “Pao Tang” application and 9 financial institutions in August
 

Published : July 04, 2022

By : THE NATION

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