Bangkok--24 May--PTTEP
PTT Exploration and Production Public Company Limited (PTTEP) launches its first hybrid debt capital instrument, offering a yielding interest of between 5.85% to 7.85% payable every 3 months. The issue is the country’s first-ever alternative long-term investment offered by non-financial institution, with a credit rating of “AA” assigned by TRIS Rating Co., Ltd. The subscription and payment period is during June 11 — 14, 2012. The minimum subscription amount is 100,000 Baht.
Ms. Penchun Jarikasem, PTTEP’s Executive Vice President of the Finance and Accounting Group said that “PTTEP is the first non-financial institution who offers hybrid debt capital instrument as an alternative long-term investment for investors” The instrument is subordinated, unsecured and unconvertible with bullet payment and single redemption upon liquidation of the issuer, and have Debentureholder’s representative. The issuer has a right to early redeem the instrument on year 10 and on every interest payment date thereafter.
In addition, the offering amount is up to 5,000 million Baht with a proposed interest rate of 5.85% p.a. for the first 10 years, 6.10% p.a. for Year 11 to 30, 6.85% p.a. from Year 31 to 60 and 7.85% p.a. from Year 61 onwards. The period of subscription and payment is during June 11 — 14, 2012. The unit of subscription is 1,000 Baht. The minimum amount for subscription is 100,000 Baht. TRIS Rating Co., Ltd has assigned “AAA” rating on PTTEP and “AA” on its hybrid debt capital instrument.
PTTEP is a state-owned enterprise and is one of the leading exploration and production (E&P) companies in South East Asia. PTTEP emphasizes value creation and sustainable growth through operations excellence, strategic investments, and its ability to change. PTTEP reliably and safely delivers competitively priced oil and gas with responsibility to society and the environment, adhering to good corporate governance and financial discipline. PTTEP hybrid capital instrument thereby is one of the interesting opportunities for investors who are looking for long-term savings.
For subscription or more information, please contact KASIKORNBANK at 0-2888-8888, Krung Thai Bank at 1551, or The Siam Commercial Bank at 0-2777-7777.