PTTGC Issues $1.25Bn Debentures to Offshore Investors for Debt Repayment-Working Capital

PTT Global Chemical Public Company Limited group (PTTGC) has announced that, on March 18, 2021, GC Treasury Center Company Limited (GCTC), a wholly owned subsidiary of the company has issued and offered Senior Unsecured Debentures of US$ 1,250 million to foreign investors and foreign institutional investors.

The debentures issued under the program by GCTC will be unconditionally and irrevocably guaranteed by the company, consisting of 10-year bond worth US$ 700 million and 30-year bond worth US$ 550 million with a fixed coupon rate of 2.98% p.a. and 4.30% p.a., respectively.

In addition, these debentures have been assigned BBB by Standard and Poor’s (S&P) and Baa2 by Moody’s Investor Service (Moody) and the debentures will be listed on the Singapore Exchange Securities Trading Limited.

 

The proceeds from the debentures will be used for general corporate purposes, including, but not limited to, debt repayment, funding acquisitions and investment activities and on-lending to entities within the company group.