Bangkok--12 Feb--PTTEP
Recently, Mr. Anon Sirisaengtaksin, Chief Executive Officer of PTT Exploration and Production Plc (PTTEP) and Mr. Richard Yacenda, Managing Director of Deutsche Bank AG, Asia Pacific Head Office signed an agreement to implement the Account Receivables Purchase Facility, with Mr.Maroot Mrigadat, President of PTTEP and Mr.Suranit Sorasuchart, Chief Operating Officer of Deutsche Bank, Bangkok Branch as witnesses. Under this structured trade finance deal, PTTEP will be able to sell an agreed amount of each month’s trade receivable to Deutsche Bank on a without recourse basis and receive cash upfront. This newly implemented solution serves not only to bolster PTTEP’s cash management efficiency, but will also enhance the company’s fundraising capability through balance sheet improvements.
For more information, please contact
Tongchit Pongorapin Tel. 0-2537-4587 E-mail: [email protected]
Surayot Aimlaor Tel. 0-2537-4588 E-mail: [email protected]