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Banpu Debentures No. 1/2022 received overwhelming response with subscription closing at a total value of THB 12,000 million, reflecting high investor confidence

Banpu Debentures No. 1/2022 received overwhelming response with subscription closing at a total value of THB 12,000 million, reflecting high investor confidence

Banpu Public Company Limited or BANPU, a leading international versatile energy provider, received a great response from the issuance of five series of senior unsecured debentures with a debenture holders’ representative offered to institutional and high net worth investors. With an oversubscription of the debentures by two times, the Company decided to raise the total value to THB 12,000 million to meet the increased demand. The highly successful debenture issuance reflected the strong investor confidence on Banpu’s industry leadership as a robust energy solution provider with high calibre to drive a sustainable energy future.

Mrs. Somruedee Chaimongkol, Chief Executive Officer of Banpu Public Company Limited, said that “We would like to thank all investors for their great interest and confidence in investing in Banpu Debentures No. 1/2022 offered on 27 January 2022, making the total value of THB 12,000 million fully subscribed faster than expected. The overwhelming response reflected Banpu’s strong credentials on its unwavering commitment to the Greener & Smarter strategy and ESG principles as we pursue the path to become a leading international versatile energy provider.  We strive to develop innovation and energy technology by accelerating the Company’s transition known as Banpu Transformation towards greener and smarter energy, as well as enhancing the organization with digital technology with aim to generate long-term value and returns for investors and all stakeholders.”

Banpu offered institutional and high net worth investors with five series of senior unsecured debentures with a debenture holders’ representative, consisting of 1) the 3-year debentures with an interest rate of 1.76% per annum at a total value of THB 2,000 million; 2) the 6-year debentures with an interest rate of 3.11% per annum at a total value of THB 1,000 million; 3) the 8-year debentures with an interest rate of 3.58% per annum at a total value of THB 2,000 million; 4) the 10-year debentures with an interest rate of 3.89% per annum at a total value of THB 3,000 million; and 5) the 12-year debentures with an interest rate of 4.12% per annum at a total value of THB 4,000 million.

The Company appointed Bangkok Bank Public Company Limited as the underwriter of Banpu’s debenture issuance. The offering has closed successfully thanks to Banpu’s strong financial position with “A+” ratings and “Stable” outlook by TRIS Rating Company Limited on 19 January 2022. Previously, the Company planned to issue debentures in the amount of THB 7,000 million, with additional THB 3,000 million offered through a Greenshoe option. Following the overwhelming investor interest with total subscription value exceeding THB 16,000 million, more than two times the amount offered at THB 7,000 million, the Company decided to increase the total debenture value to THB 12,000 million to meet the hiking demand. The proceeds from the issuance of the debentures will be utilized for repayment of debt and/or working capital.

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