Bangchak Successfully Issues Debentures worth THB 10,000 million

Bangchak Corporation Public Company Limited succeeded in issuing Name-Registered, Unsubordinated and Unsecured Debentures with Debenture Holders’ Representative to institutional and/or high net worth investors, with 3 tranches tenor not over 10 years, which received a positive response from investors. The initial target of THB 5,000 million was increased to THB 10,000 million to meet investors’ interests, which received an issue rating of “A-” and “Stable” outlook from TRIS Rating Company Limited.

Chaiwat Kovavisarach, Group Chief Executive Officer and President, Bangchak Corporation Public Company Limited (“BCP” or “Company”) stated that BCP’s debentures offering 1/2022 was welcomed by numerous investors who expressing 1.2 times oversubscribed demand for the THB 10,000 million debentures, prompting the Company to expand the initial THB 5,000 million offering to meet the aforementioned demand.

Bangchak offered 3 tranches of debentures consisting 3-year debenture with a 2.84% yearly interest valued at THB 4,500 million (maturity in 2025), 5-year debenture with a 3.26% yearly interest valued at THB 2,000 million (maturity in 2027), and 10-year debenture with a 4.00% yearly interest valued at THB 3,500 million (maturity in 2032), with interest paid every 6 months. The debentures tranche received a rating of “A-” from TRIS Rating Company Limited on 27 July 2022, and the issuance of the 1/2022 BCP debentures have 2 transaction arrangers, namely Bangkok Bank Public Company Limited, and KASIKORNBANK.

Chaiwat continued that we would like to express our sincere appreciation to all investors for their trust and interest in Bangchak’s debentures, prompting the company to increase the value of the issuance to accommodate the interests of institutional and/or high net worth investors in the company’s funding round, including trusts managed by securities, insurance, cooperatives, commercial banks, companies, legal entities, and high net worth investors. We would like to thank Bangkok Bank Public Company Limited and KASIKORNBANK for arranging this transaction and is part of its success.

“The success in these debentures issued shows investor confidence in the company, as the Leader in Energy Transition, which not only includes its competitive positioning throughout the entire energy value chain, as well as green innovation, but the company’s stability and A- credit rating from TRIS Rating Company Limited reflecting its competitiveness in the energy industry and a good opportunity for investors with constant returns during its maturity. The company will use the funds as working capital to handle the volatility of the Thai economy and oil prices, and speed up investments to strike a balance between national energy security and clean energy transition towards a sustainable low-carbon society for all.”