Bangkok--30 Oct--Ogilvy Public Relations Worldwide
PTT Chemical Plc, Thailand’s leading chemical and petrochemical products producer and a subsidiary of PTT Plc., plans to issue debentures, with 5- and 7-year maturity period, to raise funds for its downstream petrochemical business expansion. Confidence in the plan’s success is strong despite economic turbulence in Thailand and worldwide.
Mr. Veerasak Kositpaisal, President of PTT Chemical Plc., said that the 5- and 7-year debentures will be issued shortly for the first time.
“We have appointed six leading financial institutions to handle the debenture subscription. The six financial institutions are Bangkok Bank Plc, KASIKORNBANK Plc, Krung Thai Bank Plc, The Siam Commercial Bank Plc, TMB Bank Plc and Tisco Securities Co., Ltd.
"We are strongly confident about this debenture issuance because of many reasons. We are Thailand's No. 1 and Asia's top five olefins producer. We are also the flagship company of PTT Plc. in petrochemical business. Our company is rated A+ by FITCH (Thailand). In addition to our sustainable growth policy, we also concern about environment i.e. eco-production process, expansion to natural based chemical and alternative energy which is environmental friendly. These make PTT Chemical one of the companies that help support Thailand's economy in the long run."
“This is the first time PTT Chemical will issue and offer debentures to the public. It is not only part of our downstream petrochemical business expansion but also our plan to allow the public to participate in growing petrochemical business development. Strengthening our business means we are helping Thailand reduce imports of petrochemical and chemical products while generating more income and increasing Thais’ potential and capability. More importantly, this is an interesting saving alternative for Thai people,” said Veerasak.
Funds raised from this plan will be used in the company’s various production capacity expansion projects. This will boost the company’s cost advantage and increase long-term value to the company’s products.
More information about the debenture, term and conditions, subscription and allocation can be obtained from any branch of the six financial institutions — Bangkok Bank Plc, KASIKORNBANK Plc, Krung Thai Bank Plc, The Siam Commercial Bank Plc, TMB Bank Plc and Tisco Securities Co., Ltd.
About PTT Chemical Public Company Limited
PTT Chemical Public Company Limited is Thailand’s largest olefins producer with top five production capacity in Asia. As a member of the PTT Group which operates the group’s core petrochemical and chemical business, the Company strongly commits to becoming the world’s leading chemical manufacturer. PTT Chemical relentlessly enhances its competitiveness for sustainable growth by continuously expanding production capacity and consistently extending its investment in petroleum and petrochemical related businesses through its affiliates and joint ventures.
Issued by : PTT Chemical Public Company Limited
For further information : Nuntinee Kolvithayakul
Public Relations, Division Manager
PTT Chemical Public Company Limited
Tel. 0 2265 8400