Phatpuree Chinkulkitnivat, Senior Executive Vice President, Accounting and Finance, Bangchak Corporation Public Company Limited revealed that Bangchak and Krungthai Bank are preparing to issue and offer "Bangchak Digital Debentures" through the "Paotang" application for the issue size of THB 3 Billion. The debentures are accessible to all Thais, and support 24-hour real-time transactions, with the three-year investment provided with a fixed annual interest rate of 3.45%, payable every six months. Bangchak digital debenture is specific-name bearer, unsubordinated, unsecured, and has a Debenture holders' representative, and assigned a credit rating of "A", stable by TRIS Rating on 28 September 2023, reflecting the strength of Bangchak's businesses, the synergy created following the completed acquisition of majority shares in Esso (Thailand), and the increased production efficiency.
Bangchak Digital Debenture will commence subscription on the "Paotang" application at 08.30 on 30 October 2023 until 1 November 2023. The minimum subscription is THB 10,000. This ensures that individual and digital investors can fairly and equally access Bangchak Digital Debentures to invest in Bangchak, a Thai Leader in Energy Transition, receive fixed returns and foster financial stability which is in line with the direction of the company's growth.
Phatpuree continued to express confidence that this second Bangchak Digital Debenture is expected to be well-received given the successful debenture issuance in 2022. This optimism is rooted from the overwhelming investor interest, with the entire THB 3 Billion debentures fully-subscribed in three minutes and eighteen seconds on the first day of opening. At the time, the credit rating was A-. However, the current debenture has been assigned a credit rating of A. This reflected investors' confidence in Bangchak's capabilities as a Leader in Energy Transition with diverse operations that cover upstream to downstream operations, and integrated refinery and marketing businesses. Bangchak remains steadfast in its commitment to expanding into new ventures, committed to sustainable business innovation in harmony with the environment and society. Through this fundraising effort, Bangchak intends to utilize the capital raised to achieve maximum efficiency, ensuring sustainable strength in the future.
Rawin Boonyanusasna, Senior Executive Vice President Group Head, Managing Director, Global Markets Group, revealed that this collaboration with Bangchak is an extension of the success in developing digital investment products, elevating the Thai capital market, and supporting continuous economic growth. It promotes fair and equal access to financial and investments services for Thai people, reduces disparities, and addresses the United Nations' Sustainable Development Goals (SDGs). Digital Debentures on the "Paotang" application provide investors the convenience of trading in real-time 24-hours a day. Investors are able to receive debentures and payments instantly upon completing the transaction, as well as display information of their current holdings and trading prices. This addresses savings and investments needs, fostering sustainable financial stability for customers and the general public.
"The bank believes the Bangchak Digital Debenture will be well received from investors because it is an investment opportunity in business with high capabilities and growth opportunities with fixed returns. Bangchak operates a comprehensive integrated energy business and has been a part of Thai society for a long time, demonstrating its commitment to social and environmental responsibility as it strives towards the goal of sustainable growth through evolving greenovation".
For those interested, register the "Digital Debenture Wallet" on the "Paotang" application, and complete the investment risk assessment form starting today. Subscription will commence at 08.30 at 08.30 on 30 October 2023 until fully subscribed. The minimum subscription is THB 10,000 increasing in increments of THB 10,000, limited to no more than THB 50 million per person. Rights reserved upon submission of rights offering subscription form. For more information contact Krungthai Contact Center 02-111-1111 or any Krungthai Bank branch.
Source: Bangchak Corporation