PTT Exploration and Production PCL : PTTEP’s successful issuance of THB 15,000 million debentures

Bangkok, June 20, 2019 - PTTEP Treasury Centre Company Limited has issued Senior Guaranteed Debentures worth THB 15,000 million to Institutional and High Net-worth Investors in the Thai capital market. The proceeds from the debentures issuance will be spent for working capital and for refinancing senior debt.

Phongsthorn Thavisin, President and Chief Executive Officer, PTT Exploration and Production Public Company Limited (PTTEP) stated that PTTEP Treasury Centre Company Limited, a wholly-owned subsidiary of PTTEP, issued Senior Guaranteed Debentures to institutional and high net-worth investors for a total amount of THB 15,000 million. The debentures, due in 2022, have a tenor of 3-years, bear a fixed interest rate of 2.26% per annum and are fully guaranteed by PTTEP.
'These are the first bonds PTTEP has offered to the Thai market in over 5 years. The transaction success is highlighted by initial investor demand of over 3 times. Moreover, the issuance, year-to-date, is also the largest order book for a single-tranche non-retail corporate issuance in the Thai bond market for 2019, and represents strong investor confidence in PTTEP. Proceeds from the bond issuance will be spent on working capital as well as for refinancing senior debt obligations,' said Phongsthorn.

The transaction also marks the first bond issuance in the Thai capital markets by a Standalone Treasury Center, and exemplifies the use of treasury centers for better liquidity management, while showing support for the government's policy to promote Thailand as an investment hub.

Registered on the Thai Bond Market Association, the bonds are rated 'AAA/Stable' by TRIS Rating. HSBC and Siam Commercial Bank acted as joint book runners and lead managers.

For more information, please contact Media Management Section
Tongchit Pongorapin Tel. [phone]
Nalin Viboonchart Tel. [phone]
E-mail: [e-mail]: http://www.pttep.comFacebook: http://www.facebook.com/pttepplc