GPSC is pleased to announce a debenture issuance of Bt.5,000 million for institutional investors and major investors, aiming to be a leading innovative power generating company. Fitch Ratings (Thailand) Limited has rated GPSC debentures at A+(tha), which reflects the strength of the company’s financial situation. Bank of Ayudhya Public Company Limited and the Siam Commercial Bank Public Company Limited are appointed to be the co-underwriters for this offering.
Dr. Toemchai Bunnag, President and Chief Executive Officer (CEO) of Global Power Synergy Public Company Limited or GPSC, a power and utility flagship of PTT Group, said the booking of this debenture is 7 times higher than offer amount which reflects the investors’ confidence on our Bt.5,000 million debenture issuance. The response is quite positive from both institutional investors and major investors for 2 tranches of the debentures: the 1st tranche is a 4-year debentures with the total value of Bt.3,500 million with the interest rate of 2.21% per year. The 2nd tranche is a 7-year debentures with total value of Bt.1,500 million with the interest rate of 2.82% per year. The company realizes that nowadays the financial costs are very crucial under the strong competition in businesses which affect to the return on investment and the company’s financial performance.
According to the company’s operating business with strong cash flow, long term purchase and sale agreement with the clients and our operational excellence management system together with a continuous growth in performance have resulted in the confidence of our investors. Moreover, the debt to equity ratio at 0.25 times has shown the strong financial status with constant business expansion as targeted. The company has aimed to continuously develop to be a global leading innovative power company with sustainable growth.
“The company issues the debentures at an appropriate time, when interest rate remains low and there is plenty of liquidity in the capital market. That would allow the company to get appropriate financial costs and able to manage the costs efficiently.” said Dr. Toemchai.
Mr. Suratun Kongton, Head of Corporate and Investment Banking Group of Bank of Ayudhya PCL, said “Krungsri is pleased to have supported GPSC’s first issue of debentures as a joint lead arranger. We helped organize roadshows to bring GPSC and institutional investors together. These events were received with great interest and feedback, reflecting the trust in GPSC’s capabilities and strengths in terms of performance as well as financial standing. Krungsri is supportive and would hope to strengthen partnership with GPSC towards the bright future."
Ms. Soramon Inkatanuvatana, Executive Vice President, Multi-Corporate Segment 1 Division, the Siam Commercial Bank PCL, said “despite the inaugural debentures offering of GPSC, the market response was overwhelming thanks to creditworthiness and credibility of GPSC in the eyes of the target investors of being the New S-curve in power business under PTT Group. SCB will definitely go along with GPSC for the growth to come.”