Bangkok--Jun 24--Ratchaburi Electricity
Ratchaburi Electricity Generating Holding Public Company Limited (“RATCH”) has successfully refinanced 34.262 billion bath outstanding debt of Ratchaburi Electricity Generating Company Limited (“RATCHGEN”), its subsidiary. On June 10, 2005, the Board Meeting of Ratchaburi Electricity Generating Company Limited has approved the refinancing scheme of the company by arranging the new financing loans at a portion of 24.262 billion Baht and issuing debentures of 10 billion Baht. SCB Securities Company Limited is a financial advisor of this transaction.
The new 24,262 Million Baht loan maturity is approximately 10 years. The
interest rates are divided into 3 intervals consisting the 1st-2nd Year at MLR — 2.50%, the 3rd-4th Year at MLR —2.00% and the 5th-10th Year at MLR — 1.50% . The repayment term will base on monthly basis for interest payment and quarterly basis for principal payment, which the first repayment will be in September 30, 2005 and the last will be in March 31, 2015.
The schedule of loan withdrawal is dated by July 2005. The lenders are 6
Thai financial institutions namely; Krungthai Bank Public Company Limited, Kasikorn Bank Public Company Limited, Thai Military Bank Public Company Limited, Bank of Ayudhya Public Company Limited, BankThai Public Company Limited and Government Savings Bank. RATCHGEN and 6 lenders have already signed the Loan Agreement since June 23, 2005.
For another 10 billion Baht of the outstanding loan, RATCHGEN will refinanced through unsubordinated and secured debentures. They divided into 2 tranches designated by their maturities which are 7 billion bath 3-year debenture and 3 billion bath 5-year debenture. The company has mandated Krung Thai Bank Pcl., Kasikorn Bank Pcl., Thai Military Bank Pcl. and Bank of Ayudhaya Plc. to be an underwriter and Kasikorn Bank Plc. as a registrar and bondholders representative. Both have already entered Underwriting Agreement in June 16, 2005.
In June 15, 2005, the company by the financial advisor has filed the debenture documentation and applied for the permission to issue the instruments from the Securities and Exchange Commission (SEC). The company together with the 4 underwriters will present the issuance information to investors in June 29, 2005.
Ratchaburi Electricity Generating Company Limited is the largest private
power producer (IPP) in Thailand. Its 99.99% of stake is hold by Ratchaburi Electricity Generating Holding Company Limited (RATCH). It is an operator of Ratchaburi Power Plant with total installed capacity of 3,645 Megawatts that accounts for 14% of the country’s total installs and 34% of all installed capacities generated by Independent Power Producers in the Kingdom.
RATCHGEN has entered the Operating and Maintenance Agreement and 25-yearPower Purchase Agreement with EGAT.
Learn more about Ratchaburi Holding, visit our website at www.ratch.co.th
Information for media contact:
Charusuda Boonkerd / Wiwan Phayakvichien
Public Relations Department
Ratchaburi Electricity Generating Holding PCL.
Tel. 0 2978 5061-3 Fax 0 2937 9321
Email: [email protected] , [email protected] End.