{"id":4641,"date":"2023-10-02T11:53:35","date_gmt":"2023-10-02T04:53:35","guid":{"rendered":"https:\/\/trueblog.info\/blog\/?p=4641"},"modified":"2023-10-02T14:45:42","modified_gmt":"2023-10-02T07:45:42","slug":"debentures","status":"publish","type":"post","link":"https:\/\/www.true.th\/blog\/en\/debentures\/","title":{"rendered":"“True Corporation” to Issue A+ Rated 1-10 Years Debentures With Fixed Coupon Rates of [3.12 \u2013 4.80]% during 2 \u2013 6 November 2023"},"content":{"rendered":"

Bangkok: <\/em><\/strong>October 2nd<\/sup>, 2023 <\/em><\/strong>\u2013 <\/strong>True Corporation Plc, Thailand’s top telecom-tech company, plans to issue 5 tranches of debentures to retail investors, comprised of 1 \u2013 10 years tenors, with coupon <\/strong>rates of [3.12-4.80]% per annum. They come with an A+ rating and a “stable” outlook from Tris Rating, reflecting the company’s strength following the merger of True and dtac. The subscription is set for 2 – 6 November 2023 through 6 leading financial institutions namely, Bangkok Bank, Kasikorn Bank, Siam Commercial Bank, Krungsri Bank, CIMB Thai Bank, ,and United Overseas Bank (Thai). With Krungsri Bank serving as the debenture registrar and representative for debenture holders. Additionally, investors can participate via the TrueMoney Wallet application.<\/strong><\/p>\n

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Ms. Yupa Leewongcharoen, Co-Chief Financial Officer of True Corporation Plc <\/strong>said: \u201cThis debenture issuance is being carried out by the new merged company, True Corporation, which boasts enhanced stability and a solid foundation resulting from the strategic amalgamation of True and dtac. The company is now poised to fully realize its role as Thailand’s foremost telecom-tech industry leader, leveraging the largest customer base in mobile phones and broadband services. The company is confident that it will receive a strong response from general investors who seek to invest in sectors poised to benefit from a bullish economy, tourism and offer attractive future returns. This is especially appealing to the public seeking stable investments issued by a prominent national corporation. Our primary focus is on improving operations and delivering greater value to consumers and businesses, which includes generating new innovations to drive forward the Thai economy and society. Additionally, we aim to provide investors with the opportunity to grow alongside the new merged company, particularly in the thriving digital business sector, characterized by an upward trend and significant growth.\u201d<\/p>\n

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The company and its debentures were rated A+ with a “stable” outlook by Tris Rating as of 27 September 2023. This rating reflects an improved financial risk profile, strengthened business operations, and an enhanced market position in the mobile phone and broadband industries. The company boasts nationwide network coverage, a comprehensive spectrum portfolio, and a well-established reputation. Additionally, it benefits from positive macroeconomic factors such as the expected GDP growth in Thailand following the recovery of the tourism industry post Covid-19.<\/p>\n

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These sets of debentures will be publicly offered. The proceeds from the debenture issuance will be allocated for refinancing maturing debt and reserve for working capital requirement. These unsubordinated and unsecured debentures, featuring debenture holders\u2019 representatives and quarterly coupon payments, will be available for subscription on 2 \u2013 6 November, 2023. The minimum subscription amount is 100,000 baht, with increments of 100,000 baht. The debentures will be offered in five tranches as follows:<\/p>\n

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  1. 1st<\/sup> Tranche- 1 year tenor with a fixed coupon rate of [3.12-3.22]% per annum.<\/li>\n
  2. 2nd<\/sup> Tranche \u2013 3 year and 3 months tenor with a fixed coupon rate of [3.70-3.85]% per annum.<\/li>\n
  3. 3rd<\/sup> Tranche \u2013 5 year tenor with a fixed coupon rate of [4.00-4.15]% per annum.<\/li>\n
  4. 4th<\/sup> Tranche \u2013 7 year tenor with a fixed coupon rate of [4.35-4.45]% per annum.<\/li>\n
  5. 5th<\/sup> Tranche \u2013 10 year tenor with a fixed coupon rate of [4.50-4.80]% per annum (with a call option after 5 years)<\/li>\n<\/ol>\n

    The company is currently in the process of filing a registration statement and the draft prospectus. These documents are not yet effective and are pending approval by the Securities and Exchange Commission (SEC). Interested investors can obtain further details regarding the debenture offering and the draft prospectus by visiting www.sec.or.th. For additional information, please feel free to contact any of the six lead arrangers listed below:<\/p>\n

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