True Corporation Public Company Limited (TRUE), today announced a new debenture offering spanning five tranches with tenors ranging from 1 year 3 months to 10 years.
The fixed coupon rates on the new debentures will range from an attractive 2.95% per annum for the shortest 1 year 3 month tenor up to 4.30% per annum for the longest 10-year tenor. This provides appealing options for investors seeking both short-term and long-term fixed income opportunities.
True Corporation maintains a strong “A+” credit rating with a “Stable” outlook from TRIS Rating, reflecting its competitive position in telecommunications and digital technology businesses in Thailand.
The public debenture subscription period is scheduled for May 23rd to May 27th, 2024. Investors can subscribe through the joint lead arrangers including Bangkok Bank, Kasikorn Bank, Siam Commercial Bank, CIMB Thai Bank, United Overseas Bank (Thai), Asia Plus Securities, as well as via the TrueMoney Wallet application.
“This new debenture offering allows us to refinance upcoming maturities while providing attractive investment options for our investors,” stated Ms. Yupa Leewongcharoen, Chief Financial Officer of True Corporation. “With potential interest rate cuts signaled, these fixed-rate debentures offer a chance to lock in solid long-term yields.”
The debenture tranches and coupon rates are:
- 1 year 3 months: 2.95% p.a.
- 2 years 6 months: 3.51% p.a.
- 3 years 3 months: 3.70% p.a.
- 5 years 3 months: 4.00% p.a.
- 10 years: 4.30% p.a. (with call option from year 5)
True Corporation believes strong investor interest will meet this new debenture issuance, given the company’s solid financial standing, market leadership, and the appealing fixed-rate yields on offer.
The offerings are subject to approval by the Securities and Exchange Commission of Thailand. More details can be found in True’s draft prospectus filed with the SEC.
