TOP Issues ฿17bn Senior Unsecured Notes for Capital Expenditures and Corporate Purposes

Thai Oil Public Company Limited (TOP) has announced that Thaioil Treasury Center Company Limited (TTC), as a wholly-owned subsidiary of TOP, has issued senior unsecured notes to institutional investors overseas for the total amount of USD 565 million (approx. 17.1 billion baht), fully guaranteed by TOP, carrying a coupon of 3.50% per annum with the tenor of 30 years.

These notes have been rated BBB+ by Standard and Poor’s and Baa1 by Moody’s. Pricing Date is on October 9, 2019 and Settlement Date will be completed by October 17, 2019.

 

The proceeds from the issuance and offering of the notes will be used for capital expenditures and general corporate purposes.