Bangkok--31 Aug--PR FOCUS
True Corporation Plc (TRUE) has announced investor response to its secured debenture issue exceeded expectations, reflecting confidence in the Group’s prospects and the recovering economy. The first interest payment will be made on October 7.
Mr. Noppadol Dej-Udom, Group Chief Financial Officer, True Corporation Plc said, “True would like to thank investors for their excellent response to the debenture offer with subscriptions totaling Baht 7,000 million. By selecting True debentures as an alternative investment for the future, investors have shown their confidence in the Group’s management, long-term prospects and the recovering economy.”
The five-year, five-month secured debentures carry a fixed interest rate of 6.7% per annum (payable every three months) and will mature in 2015. The subscription period was from August 24-27 with the first interest payment due on October 7.
Proceeds from the issue will be used to prepay existing debt prior to maturity and will not add to True’s debt burden. Proceeds will also help strengthen the balance sheet and allow True to pursue future growth opportunities.
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