Bangchak “Delights” with Over-Subscription of Debenture Exceeding 8 Times Exercises Greenshoe Option, Closing Total Issuance at THB 10 billion

Bangchak Corporation Public Company Limited has successfully issued and offered debentures attracting investors’ interest exceeding its initial target, driving the total issuance to THB 10 billion. This reflects investors' confidence in Bangchak, which its debentures have been assigned a credit rating of "A" by TRIS Rating.

On June 28, 2024, Bangchak issued unsecured and unsubordinated debentures with a debenture holder representative, offered to institutional investors and/or high-net-worth investors. The offering drew significant interest, particularly from over 100 institutional investors, resulting in an overwhelming subscription more than 8 times of its initial target at THB 5 billion. To accommodate and expand investor base, Bangchak decided to exercise THB 5 billion greenshoe option, upsizing the transaction to THB 10 billion. This will enhance the efficiency of Bangchak's liquidity management and capital structure. The overwhelming demand reflects investors' confidence in Bangchak's strong financial position, enhanced competitive capabilities, and the synergistic power of business operations following the recent acquisition, as evidenced by increased asset utilization.

This debenture offering consists of 3 tranches: a 3-year debenture with an interest rate of 3.09% p.a. with a size of THB 2.5 billion, a 5-year debenture with an interest rate of 3.60% p.a. with a size of THB 2.5 billion, and a 10-year debenture with an interest rate of 4.03% p.a. with a size of THB 5 billion.

Phatpuree Chinkulkitnivat, Chief Financial Officer and Senior Executive Vice President, Accounting and Finance, Bangchak Corporation Public Company Limited, said, "Bangchak would like to thank all investors for their trust and interest in our debentures. We also appreciated all participating financial institutions and arrangers for their efforts in making this transaction immensely successful. The overwhelming support from investors reflects confidence in Bangchak's strong performance and continuous growth potential. We intend to pursue our robust growth as a Thai energy company with a commitment to environmental and social responsibilities, ensuring energy security for the country. We are driving business with innovation, and creating growth and sustainability for the organization and Thai society."

Bangchak’s debentures have been assigned a credit rating of "A" with a "stable" outlook by TRIS Rating Co., Ltd. on June 18, 2024, reinforcing the company's strong financial and business status. The debenture issuance was jointly managed by Bangkok Bank, Krungthai Bank, Kasikorn Bank, Siam Commercial Bank, and Kiatnakin Phatra Securities.