TOP Issues ฿33bln. Debentures to Foreign Institutional Investors for Corporate Purposes

Thai Oil Public Company Limited (TOP) has announced that Thaioil Treasury Center Company Limited (TTC), a wholly-owned subsidiary of TOP, has issued Senior Unsecured Notes to foreign institutional investors for the total amount of $1,000 million (approx. ฿33 billion), fully guaranteed by TOP.

The debenture comprise of $400 million carrying a coupon of 4.625% p.a., with the tenor of 10 years and $600 million carrying a coupon of 5.375% p.a., with the tenor of 30 years. These debentures have been rated BBB by standard and Poor’s and Baal by Moody’s. TTC has completed the bond issuance by November 20, 2018. The proceeds from the debentures insurance will be used for capital expenditure and general corporate purposes.

 

Moreover, TOP also informs that the company has resolved to approve capital increase of TOP Maritime Service Company Limited (TMS), an indirect subsidiary of TOP, for the amount of ฿250 million to be ฿520 million.