True sets to offer a new A+ rated debentures to investors with coupon rates of 3.35-4.50% per annum on July 20-21 and 24

The Company is preparing to launch a public offering (PO) of debentures in 4 tranches, ranging from 2 to 10-year tenors with fixed coupon rates between 3.35-4.50% per annum. The subscription period will be between 20-21 and 24 July 2023. The Lead Arrangers for this issuance are Bangkok Bank, Kasikorn Bank, Siam Commercial Bank, CIMB Thai, and TMB Thanachart Bank – with Bank of Ayudhya as the Debenture Holder’s Representative.

Ms. Yupa Leewongcharoen, Co-Chief Financial Officer of True Corporation PLC, said, “This is the Company’s first debenture issuance after a successful amalgamation of True and dtac. Our foundation is more robust with the potential synergies, empowering the drive to make the new True the leading telecom-tech company in Thailand with strong potential for the future investment. We focus on elevating our operational efficiency, enhancing customer experiences, promoting innovations aiming to deliver a better quality of life and values to consumers and businesses to further drive Thai economy and society. True extends an invitation to investors to join a journey of growth alongside True, as the Company consistently enhances its performance and profit-earning capabilities. This is particularly notable in the realm of digital businesses, where True witnesses a significant upward trend and immense potentials.

True and its debentures were assigned credit rating of A+ with “Stable” outlook by TRIS Rating on 28 April 2023 reflecting True’s reduced financial risk and improved credit profile after the amalgamation. The enhance credit rating is also as a result of its strong market position in both mobile and broadband internet markets, the nationwide network coverage, the comprehensive spectrum portfolio as well as the well-established brand. True also benefits from improved macroeconomic conditions, i.e.GDP growth, recovery of tourism post COVID-19.

The company has prepared to offer unsubordinated and unsecured debentures with a debenture holders’ representative and coupon payable every 3 months to general public under Public Offering (“PO”). The use of proceeds from debenture issuance will be to refinance its maturing debt and reserve for working capital requirement. 

True debenture subscription are expected to be available between 20-21 and 24 July 2023, with the minimum subscription amount of 100,000 Baht and the multiple of 100,000 Baht as follows:

1. 1st Tranche – 2-year tenor with a fixed coupon rate of 3.35% per annum.
2. 2nd Tranche – 3-year tenor with a fixed coupon rate of 3.60% per annum.
3. 3rd Tranche – 5-year tenor with a fixed coupon rate of 4.10% per annum.
4. 4th Tranche – 10-year tenor with a fixed coupon rate of 4.50% per annum with a call option after 5 years.

The company is in the process of filing a registration statement and the draft prospectus which are not yet effective and pending approval by the Securities and Exchange Commission (SEC). Interested investors can learn more from the SEC website: www.sec.or.th or contact any of the 5 Lead Arrangers below:

• Any branch of Bangkok Bank, except micro branches, or call 1333 or online channel via Bualuang mBanking 
• Kasikorn Bank tel. 02 888 8888 extension 819 or online channel via https://www.kasikornbank.com/kmyinvest (Except Non-Thai passport holder; juristic persons may subscribe via Kbank’s headquarter and branches)
• Any branch of Siam Commercial Bank or call 02 777 6784 or via online channel SCB Easy
• Any branch of CIMB Thai Bank or call 02 626 7777 or via online channel CIMB Thai Digital Banking
• Any branch of TMB Thanachart Bank or call 1428 and #4 (For high net worth customers only)