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

Stocks and Financial Services Press Releases Thursday May 4, 2017 14:36
Bangkok--4 May--ABM
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.

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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