Shareholders Approve GULF for ฿10bln. 10-Year Debentures Issuances and Offerings

Gulf Energy Development Public Company Limited (GULF) has announced that according to the extraordinary general meeting of shareholders on November 27, 2018, the meeting approved the issuances and offerings of any type and category not more than 10 years of debentures of GULF (including without limitation, secured, unsecured, subordinated and unsubordinated debentures) depending on the market condition at the time of each issuance and offerings.

 

The issuance and offerings of debentures are for funding GULF’s normal operations, loan repayment, investment of GULF and its subsidiaries, working capital of it and the subsidiaries or other purposes deemed appropriate.

The total amount of issuance and offerings will be the aggregate principal of not more than ฿10 billion and/or its equivalent in any foreign currencies. The principal amount of the debentures redeemed or purchased by GULF shall be counted towards the available principal amount of the debentures that can be issued and offered by GULF.

 

In the event that GULF issues debentures to refinance existing debentures (issuance of new debentures to repay and/or replace existing debentures), the principal amount of existing debentures to be redeemed on the issue date of the new debentures issued to refinance such existing debentures shall not be counted as part of the outstanding debentures which have not been redeemed in the calculation of the available principal amount of the debentures that can be issued by GULF.

The debentures may wholly or partially be offered by way of public offering, private placement, to high net-worth investors, institutional investors, any persons and investors.