Bangkok--Feb 22--124 Communications
Glow Energy Plc (“Glow Energy”), the Thai company of Tractebel Electricity & Gas International (“Tractebel EGI”), announced today that it had signed a Baht 2 billion facility agreement with Mizuho Bank and a Yen 8.1 billion (approximately Baht 3 billion) syndicated facility agreement with Calyon.
Glow Energy Plc’s CEO Peter Termote said in a statement that the Baht 2 billion loan is a fixed interest rate loan with a bullet repayment in December 2006 and that the Yen 8.1 billion loan is a floating interest rate syndicated loan with a bullet repayment in December 2011. Glow Energy will also enter into a currency and interest rate swap agreement with Calyon to swap Yen into Baht.
Mr. Termote also added that Glow Energy had, in December 2004, completed the purchase of Glow Co Ltd. from its parent company. This transaction was effected in order to rationalize the Glow Group’s legal holding structure and, with its completion, Glow Energy has become the “flagship” of the Tractebel EGI power generating assets in Thailand. Following this transaction, Tractebel EGI remains Glow Energy’s major shareholder.
After purchasing Glow Co. Ltd, Glow Energy changed its name from Glow SPP Plc. to Glow Energy Plc. to reflect its new business structure. This structure now includes power producers and utility providers which generate and supply electricity to the Electricity Generating Authority of Thailand (EGAT) under Thailand’s Small Power Producer (SPP) and Independent Power Producer (IPP) programmes, as well as electricity, steam, processed water and other related products and services to large industrial customers principally located in the Map Ta Phut area.
Tractebel EGI is a business unit of the SUEZ group, one of the largest international industrial and services groups in the world
For more information about SUEZ or Tractebel Electricity & Gas International, please visit the companies’ websites at www.suez.com or www.egi.tractebel.com. For more information about Glow Group please go to www.glow.co.th.
For more information, please contact
Ravipim Kingwattanant/ Tongchan Boonyapataro
124 Communications
Tel. 0-2662-2266
E-mail [email protected] End.