BT15-BN OFFER PTTEP Issues 3-year |debentures
PTTEP Treasury Centre Co Ltd has issued senior guaranteed debentures worth Bt15 billion to institutional and high net-worth investors in the Thai capital market.
The proceeds from the debentures issuance will be spent for working capital and for refinancing senior debt.
Phongsthorn Thavisin, the president and chief executive officer for PTT Exploration and Production Plc said the debentures, due in 2022, have a tenure of three years, bear a fixed interest rate of 2.26 per cent per annum and are fully guaranteed by PTTEP.
“These are the first bonds PTTEP has offered to the Thai market in over five years. The transaction success is highlighted by initial investor demand of over three times,” said Phongsthorn. “Moreover, the issuance, year-to-date, is also the largest order book for a single-tranche non-retail corporate issuance in the Thai bond market for 2019, and represents strong investor confidence in PTTEP. Proceeds from the bond issuance will be spent on working capital as well as for refinancing senior debt obligations,” said Phongsthorn.
Registered on the Thai Bond Market Association, the bonds are rated “AAA/Stable” by TRIS Rating. HSBC and Siam Commercial Bank acted as joint book runners and lead managers.