True to offer 4-year debentures totalling Bt7.8 bn

True Corp is preparing to offer unsubordinated and unsecured four-year debentures, totalling Bt7.8 billion. The company is offering a fixed interest rate of 5.8 per cent per annum and will pay interest every three months until maturity.

The debentures are priced at Bt1,000 per unit with a minimum subscription of Bt100,000. They can be subscribed through Bangkok Bank, Krungthai Bank, Kasikornbank, Siam Commercial Bank and Asia Plus Securities. The subscription period runs from April 1-4.

"The Securities and Exchange Commission of Thailand has given True approval to issue and sell unsubordinated and unsecured four-year debentures totalling Bt7.8 billion," said Noppadol Dej-Udom, group chief financial officer of True Corp. "The maturity date is in 2017 and the company can redeem the debentures before maturity.

"Tris Rating Co Ltd has rated the debentures as 'BBB-'. Funds from the sale of debentures will be used to repay existing debt ahead of the maturity date and help strengthen True's financial status."