True Move H successfully raised 13 billion Thai Baht from debenture issuance to support business expansion

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Bangkok, 4 May 2017 – The new debentures of “True Move H” 13 billion Thai Baht received overwhelming interest from investors showing confidence in the company as one of the leading mobile operator.

 

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According to Mr. William Harris, Group Chief Financial Officer of True Corporation Public Company Limited, True Move H Universal Communication Company Limited launched a long-term debenture issuance, worth 13 billion Thai Baht, during 27 – 28 April and 2 – 3 May 2017 to institutional and high net worth investors. The debentures were successfully issued on 4 May 2017 with strong demand from investors. The company would like to express its sincere gratitude to all investors for this overwhelming demand.

The debentures offered consist of the 5-year tenor with the coupon rate of 4.50%, the 7-year tenor with 5.00%, 10-year tenor with 5.50%, and 12-year tenor with 5.75%. For all tenors, the debentures are embedded with a call option right to early redeem the debentures at any coupon payment date since the 1st anniversary of the debentures. On 10 April 2017, TRIS Rating assigned a “BBB+” rating with “Stable” outlook on the debentures. The proceeds from this issuance will be used to fund investment, repay matured bills of exchange and/or debentures, expand its business, and fund working capital requirement for the company and its subsidiaries which operate mobile phone service.

The Joint Lead Arrangers of True Move H debentures are Bangkok Bank Public Company Limited, Kasikornbank Public Company Limited, Krung Thai Bank Public Company Limited and Siam Commercial Bank Public Company Limited.  The 12-year debenture tranche, which is the longest tenor of debentures ever issued by True Move H Universal Communication Company Limited, True Corporation Public Company Limited and its subsidiaries, demonstrates the strong confidence that investors have in the long-term prospect of True Group.

True Move H Universal Communication Company Limited is the Thai mobile operator with the most spectrums, resulting in a competitive advantage in efficiently utilizing its spectrum to serve soaring demand for data services.

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