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Noppadol Dej-Udom, group chief financial officer, said True raised Bt6.183 billion from debenture issuance. The company had expected that the debentures could be sold around Bt5 billion but not exceeding Bt7.75 billion. The subscription period was from last month to April 1 with the first interest payment due on July 7.

The five-year debentures carry a fixed interest rate of 6.5 per cent per annum (payable every three months) that will mature in 2014. The proceeds will be used to repay existing debt and will not add any further debt burden to True.

- The Nation