Bangkok--14 May--PTTEP
The Chief Executive Officer of PTT Exploration and Production Public Company Ltd (PTTEP), Mr. Anon Sirisaengtaksin, has announced a new debenture issuance seeking to raise Baht 40,000 million.
The debentures will offer an alternative for private investors at a time when bank deposit interest rates are at a historic low.
Of the total, debentures worth Baht 30,000 million will be allocated to retail investors and the remaining Baht 10,000 million to institutional investors. The issue has received the highest AAA rating from TRIS Rating Company Ltd.
The debentures allocated to retail investors are name registered, unsubordinated and unsecured debentures, with a debenture-holders’ representative. They offer an annual return fixed at 3.25% for a 3-year term, or a fixed rate of 4% for a 5-year term. Interest is payable quarterly.
Investors can subscribe for a minimum amount of Baht 100,000, or above that in multiples of Baht 100,000. The booking period is from May 25 to May 28.
To ensure a thorough distribution of the debentures, PTTEP has appointed 14 financial institutions who will underwrite the sale of the bonds. They are Bangkok Bank, Krung Thai Bank, Kasikornbank, Siam Commercial Bank, Barclays Capital Securities (Thailand), Bank of Ayudhaya, CIMB Thai Bank, TMB Bank, Siam City Bank, United Overseas Bank (Thai), Standard Chartered Bank (Thai), Kiatnakin Securities, Tisco Securities, and Thanachart Securities.
Proceeds from the issue will help finance PTTEP’s five-year long-term plan, which began this year and will end in 2013. The plan involves investments and operating budgets totaling Bt485 billion, and focuses on 40 projects in existing petroleum fields in 13 countries. Within the plan, the company will also seek opportunities to acquire further petroleum projects suitable to and supportive of its strategies, with an objective of ensuring sustainable long-term growth.
PTTEP’s target this year is to achieve a sales rate of 240,000 barrels of petroleum products per day. Last year’s rate was about 219,000 barrels per day. The company is aiming for growth of 6.5 per cent per year over the next five years, to reach total sales of 301,000 barrels per day.
The growth will come from the commencement of new projects, including the B-17 project in the Thailand-Malaysia Joint Development Area, which will start to produce natural gas at a rate of 270 million cubic feet per day from late this year; the PTTEP Australasia project, located in the southern Timor Sea to the west of Australia, which will begin to produce crude oil from the Montara field at a rate of 35,000 barrels per day, also from late this year; the 16-1 project in Vietnam which will start producing crude oil at a rate of 40,000 barrels per day from 2011; a project in Algeria is expected to begin producing 20,000 barrels of crude oil per day from 2012; and the M9 block in Myanmar is expected to commence natural gas production at a rate of 300 cubic feet per day from 2013.
For further information, please contact the External Relations
Department, PTTEP.
Sidhichai Jaiyan Tel 02 537 4592 E-mail: [email protected]
Tongchit Pongorapin Tel 02 537 4587 E-mail: [email protected]
Nuntakarn Poonsiri Tel 02 537 4080 E-mail: [email protected]
Fax 02 537 4982