WHAUP Successfully Issues THB 3.5 Billion Bond Reflecting Investor Confidence

WHA Utilities and Power Public Company Limited (WHAUP) announces that the company has issued 3 tranches of bonds worth THB 3.5 billion, with maturity of 2-5 years and interest rates of 1.91 – 2.75%, arranged by Kasikorn Bank, Siam Commercial Bank, UOB bank, and CIMB Thai Bank.

Dr. Niphon Bundechanan, Chief Executive Officer of WHA Utilities and Power PLC (WHAUP), reveals that the WHAUP bond issuance No. 2/2021 totaling THB 3,500 million, offered during 15 -19 July 2021, has received strong demand from Institutional Investors and HNWs with 2.4-time oversubscription despite the spread of Covid-19. The bonds consist of 3 tranches: Tranche 1 is THB 1.5 billion, 2-year bond with 1.91% interest rate, Tranche 2 is THB 1.3 billion, 3-year bond with 2.09% interest rate and Tranche 3 is THB 0.7 billion, 5-year bond with 2.75% interest rate. The success of the bond issuance proves that investors have strong confidence in business fundamentals, financial strength, and potential growth of WHAUP.

The total proceeds from the bond issuance will not only be used for repaying the matured loans and for working capital of the business, but also for refinancing the bank loan to lower interest expenses.  In addition, these bonds have been assigned a credit rating of A- by Tris Rating, reflecting strong business performance, healthy financial status, and solid and stable cash flow of the company.

The CEO also added that the company still continues to develop the business and focus on building sustainable business growth in both Thailand and abroad, using technology and innovation to create value and various solutions for customers, including the development of renewable energy, especially solar rooftops and innovative utilities solutions.