True Move H Universal Communication Co Ltd or TUC, True Group’s subsidiary, is preparing to issue unsubordinated and unsecured debentures with debenture holders’ representative No 1/2019 with tenors of 2 years and 5 years, a fixed coupon rate of 3.80 per cent per annum and 5.10 per cent per annum respectively.
TUC will issue up to Bt14 billion in debentures for high-net-worth investors and/or institutional investors. The debentures offer quarterly coupon payments with the minimum subscription of Bt100,000 and multiples of Bt100,000.
TUC debentures have been assigned a “BBB+” rating with a “stable” outlook by TRIS Rating. Bangkok Bank, Krung Thai Bank, KASIKORNBANK, Siam Commercial Bank and CIMB Thai Bank are the joint lead arrangers for the debenture issuance. The subscription period runs from January 21-23, 2019, William Harris, group chief financial officer, True Corporation Plc, said yesterday.