True Move H Universal Communication (TUC), a True Group subsidiary, is preparing to issue unsubordinated and unsecured debentures worth up to Bt14 billion combined, with tenors of two years and five years and fixed coupon rates of 3.8 per cent and 5.1 per cent per annum, respectively.
TUC’s debentures will be offered to high-net-worth investors and/or institutional investors. The debt instrument, which offers quarterly coupon payments with a minimum subscription of Bt100,000 and multiples of Bt100,000, has been assigned a “BBB+” rating with a “stable” outlook by TRIS Rating.
Bangkok Bank, Krungthai Bank, Kasikornbank, Siam Commercial Bank and CIMB Thai Bank are joint lead arrangers for the issuance.
The subscription period runs from January 21-23.
William Harris, group chief financial officer of True Corp, said on Monday “The Securities and Exchange Commission of Thailand has approved True Move H Universal Communication Company Limited to issue and sell unsubordinated and unsecured debentures with debenture-holders’ representative no1/2019.”
Tranche 1 debentures will mature in 2021, while Tranche 2 matures in 2024.