Bangkok--29 Nov--PTT
Mr. Prasert Bunsumpun, President and Chief Executive Officer of PTT Public Company Limited, revealed that PTT was successful beyond expectations in issuing Thailand’s first-ever 100-year debentures, valued at 4,000 million Baht, bearing an interest rate of 5.90 percent. This strongly signals investor confidence in PTT’s vision, management and business sustainability, which can make the company prosper into the next century. The deal has set a new benchmark for Thai long-term bonds, helping develop the Thai capital market with diverse products to meet the demands of investors seeking long-term investment with companies of sound financial status.
The PTT century debentures with maturity in 2110, which are rated AAA (tha) by Fitch Ratings (Thailand) Co., Ltd, the highest investment-grade ranking, have been offered via private placement to institutional and high-net-worth investors by three underwriters: Bangkok Bank, Kasikornbank and Siam Commercial Bank. Due to oversubscription, the company increased the issue size to 4,000 million Baht to meet the overwhelming investor demand.
Until now, the Thai bonds with the longest-ever maturity had been Thai government bonds with 30-year tenors. Previously, the longest-maturity bonds of PTT were 30-year debentures worth a total of USD 350 million, issued abroad in 2005.
PTT Corporate Communications Department
Telephone 0-2537-2159
Fax 0-2537-2171