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Bangchak successful issuance of THB 7,000 million debentures Investor interest exceeded value by more than 3 times

Bangchak succeeded in issuing 4 series of Senior Unsecured Debentures to institutional investors and/or high net worth investors valued at THB 7,000 million from 2 – 4 November 2020. Investor interest exceeded bid-coverage-ratio by more than 3 times, receiving a rating of “A-“ from TRIS Rating, reflecting investor confidence in the company fundamentals as the Energy Transition Leader.

Chaiwat Kovavisrach, President and Chief Executive Officer of Bangchak Corporation Public Company Limited revealed that the offering and issuance of the senior unsecured debentures round 1/2021 from 2 – 4 November 2021 was welcomed by numerous investors, allowing Bangchak to successfully issue the targeted amount of debentures, and reflects investor confidence in the company’s fundamentals.

Bangchak offered 4 series of debentures, collective valued at THB 7,000 million consisting 2-year debentures with a 1.45% yearly interest valued at THB 2,000 million, 5-year debentures with a 2.29% yearly interest valued at THB 1,000 million, 8-year debentures with a 3.11% yearly interest valued at THB 1,400 million and 10-year debentures with a 3.43% yearly interest valued at THB 2,600 million. The debentures were well-received by all types of investors such as mutual funds managed by asset companies, insurance companies, cooperative groups, commercial banks, companies and legal entities, as well as institutional investors to accommodate investor interest in company’s funding round. The capital raised will be used to cover debt repayment and working capital.

The success reflects investor confidence in Bangchak, as a leading Thai energy company, and its competitive capacity in the energy industry, including refining and the stable fuel market environment, as well as investments in new businesses through new innovative and environmentally-friendly energy businesses, aligned with sustainable business practices.

“We would like to express our sincere appreciation to all investors for their trust and interest in Bangchak’s debentures, which we believe that this good option for investors because of its constant returns due to the company’s stability and A- credit rating from TRIS Rating Company Limited reflecting the competitive capacity of the refinery and marketing businesses. We would also like to thank Kasikorn Bank Public Company Limited and Krungthai Bank Public Company Limited for arranging this transaction and is part of its success” Chaiwat Kovavisarach.