Thai telco True Corp (BKK:TRUE) plans to offer three-year unsecured debentures worth up to Bt10bn (US$295m) to support operations and investments.
Bangkok Bank, Krungthai Bank, and Siam Commercial Bank are arranging a Bt7.5bn (US$221m) offering with a…
Thai telco True Corp (BKK:TRUE) plans to offer three-year unsecured debentures worth up to Bt10bn (US$295m) to support operations and investments.
Bangkok Bank, Krungthai Bank, and Siam Commercial Bank are arranging a Bt7.5bn (US$221m) offering with a Bt2.5bn (US$74m) greenshoe option.
True CFO Noppadol Dej-Udom said: “The debentures offer a fixed coupon rate of 4.20% per annum and the issuer will pay interest every quarter until maturity with bullet repayment.
“This makes True Group’s debentures a valued investment option for general and institutional investors.”
Thailand’s credit rating agency TRIS assigned the debt a BBB+ grade with a ‘stable’ outlook.
Issued through its subsidiary TrueMove H Universal Communication, the group expects to open the debentures for subscription on 23-24 July and 27-28 July.
True is one of five bidders that state-owned telco TOT is reportedly considering partnering with to turn around its business.
A decision to delay Thailand’s 4G auctions by more than a year following a 2014 military coup has weighed heavily on telcos in the country. The spectrum sales are currently set to take place this November and December.