PTT Issues an Offshore 50-Year Debenture with Attractive Ratings from Fitch and Moody’s

PTT Public Company Limited (PTT) has announced that on 16 July 2020 PTT TCC issued Senior Unsecured Notes to offshore investors in an amount of USD 700 million for the tenor of 50 years with a fixed interest rate of 3.70% per annum, and unconditional and irrevocable guaranteed by PTT. These notes have been assigned a BBB+ rating by S&P Global ratings and a Baa1 rating by Moody’s Corporation.

 

In this regard, the notes are issued under the USD 2,000 million Global Medium-Term Note program (GMTN) . The net proceeds from the issuance of the Notes will be used to on- lend to PTT by PTT TCC.

 

The resolution was made following to PTT’s Board of Directors’ Meetings held on 22 December 2017, and PTT’s Annual General Meeting of Shareholders held on 12 April 2018, which approved the resolution of PTT’s fundraising plan for a 5-year period (2018 – 2022) in the total amount of or equivalent to Baht 200,000 million (Baht 50,000 million of loan and Baht 150,000 million of debentures) including the fund raising for PTT which is offered by PTT Treasury Center Company Limited (PTT TCC), a wholly-owned subsidiary of PTT, to be used for capital expenditure and/or working capital and/or refinancing. The remaining balance of the fundraising plan for the year 2020-2022 is approximate Baht 155,930 million.