Bangkok--9 Mar--CK Power
Mr. Thanawat Trivisvavet, Managing Director of CK Power Public Company Limited or CKP in SET, said that Nam Ngum 2 Power Company Limited (NN2), a subsidiary company of CK Power Public Company Limited (CKPower), announced the issuance of unsecured and unsubordinated Thai baht debentures with a debentureholders' representative worth 600 million baht with tenure of 5 years and interest rates of 2.45% per year. The credit rating has been assigned "A/Stable Outlook" by TRIS Rating Company Limited (TRIS Rating) on February 21, 2020. The said debentures have been issued in a Private Placement offering to no more than 10 specific investors on March 4, 2020 and the debentures later be issued on March 5, 2020 with Bangkok Bank Public Company Limited acting as the debenture underwriter.
"The company would like to thank the investors for their continued interest in investing in our debentures since 2017 to the present. The previous debentures offered by NN2 have been used to repay all remaining loans from financial institutions. The issuance of this new set of debentures is a part of CKPower’s ongoing financial cost reduction plan, which is offered during the period of relatively low interest rates. This will help to further reduce financial costs and enhance the financial strength of our business." He added.
In addition, Nam Ngum 2 Power Company Limited is the first juristic person registered in the Lao People's Democratic Republic (Lao PDR) to issue debentures in Thai Baht in order to refinance 100% of its commercial loans, reflecting investors’ confidence in CKPower’s business potential, strong performance and experienced management team with direct expertise in the field of sustainable power business.
About CKPower:
CK Power Public Company Limited (CKPower or CKP) engages in production and sales of electricity generated from three types of energy. The Company owns in 13 projects with the total installed capacity of 2,167 MW, consisting of two hydroelectric power projects, namely the Nam Ngum 2 Hydroelectric Power Plant with 615 MW installed capacity, operated by Nam Ngum 2 Power Limited (46% owned by CKP through its shareholding in SouthEast Asia Energy Limited) and the Xayaburi Hydroelectric Power Plant with 1,285 MW installed capacity, operated by Xayaburi Power Company Limited (37.5% owned); two cogeneration power projects, operated by Bangpa-in Cogeneration Limited (65% owned); and nine solar power projects, 7 of which are under Bangkhenchai Company Limited (100% owned) with total installed capacity of 15 MW, one solar power plant with 8 MW installed capacity under Chiang Rai Solar Limited (30% owned) and one solar power plant with 6 MW installed capacity under Nakhon Ratchasima Solar Limited (30% owned).