“BSRC” Launches its First Debenture, Exceeding Targets, Reaffirming Institutional Investors’ Confidence in its Performance and Business Potential

Bangchak Sriracha Public Company Limited, or “BSRC,” has successfully issued and offered debentures for the first time. Institutional investors have shown overwhelming interest, and the debentures were oversubscribed, closing the total issuance at THB 4 billion, exceeding the Company’s initial target. This reflects investor confidence in BSRC, whose debentures have been assigned an “A" credit rating by TRIS Rating.

Bundit Hansapaiboon, Chief Executive Officer, Bangchak Sriracha Public Company Limited, stated, “The Company expresses gratitude to investors who have shown their confidence in the debentures that the Company had issued and offered for the first time with an over-subscription, four times exceeding the target. As such, the Company decided to exercise a greenshoe option, upsizing the transaction to accommodate additional investor interest to THB 4 billion from the initial target of THB 2 billion. The strong investor support in this issuance reflects the confidence in the Company’s performance and business potential in the refining and marketing businesses.”

On 31 July 2024, BSRC issued and offered two tranches of debenture: a two-year debenture with a yield of 3.14% p.a. and a three-year debenture with a yield of 3.16% p.a. On 13 May 2024, TRIS Rating Company Limited assigned the debentures offered to institutional investors an “A” credit rating with a stable outlook, reinforcing the Company’s strong financial and business status. The debenture issuance was jointly managed by TMBThanachart Bank, UOB Bank, and Government Savings Bank.

“The Company intends to use proceeds from the debenture offerings to repay financial institution debts and continue with business operations according to the strategy to foster strong growth, ready to face various challenges. We are committed to sustainable and responsible business operations, supporting society, and developing products and services towards low-carbon business.” Bundit concluded.