{"id":17385,"date":"2024-01-09T10:43:19","date_gmt":"2024-01-09T03:43:19","guid":{"rendered":"https:\/\/trueblog.info\/blog\/?p=17385"},"modified":"2024-01-09T10:43:19","modified_gmt":"2024-01-09T03:43:19","slug":"debentures-6","status":"publish","type":"post","link":"https:\/\/www.true.th\/blog\/en\/debentures-6\/","title":{"rendered":"True Corporation Announcing Five New \u2018A+\u2019 Rated Debentures with Coupon Rate of 3.15 \u2013 4.60% and Tenors of 1 Year 3 Months to 10 Years; Expected Subscription Date during Jan 26-30, 2024"},"content":{"rendered":"

Bangkok :\u00a0<\/i><\/b>January 9th<\/sup>, 2024\u00a0<\/i><\/b>\u2013\u00a0<\/span><\/b><\/a>True Corporation Plc, the No.1 leading telecom-tech company in Thailand recently ranking No. 1 in the world for DJSI 2023 in the telecommunications category for the 6th<\/sup>\u00a0consecutive years, has announced coupon rates for its new debentures between 3.15-4.60% per annum. The offering consists of 5 tranches with tenors ranging from 1 year 3 months to 10 years, catering to all groups of investors. These debentures hold an ‘A+’ rating with a ‘Stable’ outlook from TRIS Rating. This reflects the strength of the company following the<\/b>\u00a0amalgamation of True and dtac, enhancing stability in telecommunications and digital technology businesses. The subscription period is expected to be during January 26th<\/sup>\u00a0\u2013 30th<\/sup>, 2024. Joint lead arrangers for this issuance include Bangkok Bank, KASIKORNBANK, Siam Commercial Bank, CIMB Thai, United Overseas Bank (Thai), and Asia Plus Securities. Investors can also subscribe the debentures via TrueMoney Wallet application.<\/b><\/p>\n

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True Corporation Plc. has submitted the registration statement and draft prospectus to the Office of the Securities and Exchange Commission (SEC) and aims to offer these new sets of debentures to retail and\/or institutional investors (Public Offering). These debentures are name-registered, unsubordinated, and unsecured, with debenture holders’ representative. The offering is expected to take place from January\u00a026<\/span>th<\/sup>\u00a0to\u00a030<\/span>th<\/sup>,\u00a02024<\/span>.\u00a0\u00a0During Saturday 27<\/span>th<\/sup>\u00a0and Sunday\u00a028<\/span>th<\/sup>, the subscription will be available via online channels of Bangkok Bank and Siam Commercial Bank only. The minimum subscription amount is\u00a0100<\/span>,000\u00a0<\/span>baht, with multiple of\u00a0100<\/span>,000\u00a0<\/span>baht for retail investors.<\/p>\n

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Continuous Investment Opportunities Following Maturity of TUC Debentures on January 15th\u00a0<\/sup>\u00a0\u00a0and 24th<\/sup>, 2024.<\/b><\/p>\n

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Ms. Yupa Leewongcharoen, Co-Chief Financial Officer of True Corporation Plc, said<\/b>\u00a0“The objectives of this debenture issuance include repaying matured debentures and\/or supporting working capital to support the company\u2019s growth. Since we plan to repay two tranches of debentures of our wholly owned subsidiary, True Move H Universal Communication Co., Ltd. (TUC), due on January 15th<\/sup>\u00a0and 24th<\/sup>, 2024, respectively. This allows investors opportunities to reallocate their funds to subscribe to the new TRUE debentures, commencing on January 26th<\/sup>, 2024. The new debentures, with tenors ranging from 1 year 3 months to 10 years, are designed to match all of the investors\u2019 preferences. Short-term investors may prefer short tenors ranging from 1 year 3 months to 3 years 3 months, while medium-term option of 5 years 3 months is also available. For those seeking long-term investments and more interest income, the 10-year tenor could be more attractive due to its higher returns.\u201d<\/p>\n

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\u201cThis is a great opportunity for TUC debenture holders, whose debentures will be matured in January, 2024, to reinvest especially in TRUE debentures before the anticipated cut in the policy rates by major Central Banks like those in United State, Europe, and United Kingdom, in response to a slowdown in inflation in 2024. Before the anticipated rate cut, investing in debentures now presents a sustainable investment alternative.” Ms. Yupa added.<\/p>\n

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The company and its debentures were rated ‘A+’ with a ‘Stable’ outlook by TRIS Rating on September 27th<\/sup>, 2023. This rating reflects the improvement in a financial risk status and the strengthened market position of the company in the mobile and broadband industries with nationwide network coverage upon a completed set of spectrums together with the credible brand.<\/p>\n

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The coupon rates of the new 5 tranches of True debentures are as follows:<\/b><\/p>\n

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  1. 1st<\/sup>\u00a0Tranche \u2013 1 year 3 months tenor with a fixed coupon rate of\u00a03.15% per annum<\/li>\n
  2. 2nd<\/sup>\u00a0Tranche \u2013 2 years 6 months tenor with a fixed coupon rate of\u00a0<\/span>3.70%\u00a0<\/span>per annum<\/li>\n
  3. 3rd<\/sup>\u00a0Tranche \u2013 3 years 3 months tenor with a fixed coupon rate of 3.85%\u00a0per annum<\/li>\n
  4. 4th<\/sup>\u00a0Tranche \u2013\u00a0 5 years 3 months tenor with a fixed coupon rate of\u00a0\u00a04.20%\u00a0%\u00a0<\/span>per annum<\/li>\n
  5. 5th<\/sup>\u00a0Tranche \u2013 10 year tenor with a fixed coupon rate of\u00a0<\/span>4.60%\u00a0per annum\u00a0(<\/span>with a call option since 5th<\/sup>\u00a0year)<\/li>\n<\/ol>\n

    The company is in the process of filing a registration statement and the draft prospectus, which are not yet effective and\u00a0are pending approval by\u00a0the Securities and Exchange Commission (SEC). Interested investors can find more information in the draft prospectus at\u00a0www.sec.or.th<\/a>. For additional information, please contact the six joint lead arrangers listed below:<\/p>\n

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