B1bn debentures from NN2
published : 30 Sep 2020 at 04:00
newspaper section: Business
Nam Ngum 2 (NN2), a subsidiary of CK Power, has issued 1 billion baht in debentures (non-subordinated, unsecured), with a tenure of three years at interest rates of 3.2% per year, and a tenure of five years at interest rates of 3.6% per year.
The proceeds will pay off another 1 billion baht in debentures, which are due for payment in October.
A credit rating has been assigned to the second-round debentures of "A/stable" by Tris Rating.
NN2 is registered as a juristic person in Laos with an installed capacity of 615 megawatts.
The company is contracted to sell all of its output to the Electricity Generating Authority of Thailand (Egat).
After the payment is made for the existing debentures, NN2 will have a total of 13.9 billion baht worth of outstanding debentures already issued as of Oct 31, 2020.
However, the company still has a credit line of 2.1 billion baht available to issue additional debentures, although it has yet to schedule the issuance of such debentures.
"Nam Ngum 2's debentures continue to draw a lot of attention from investors. We received more pre-orders than the amount initially offered and the debentures sold out quickly," said Thanawat Trivisvavet, the managing director of CK Power and director of NN2.
"This shows our investors' confidence has not been affected by the global economic crisis. I believe the Nam Ngum 2 plant will still be able to deliver electricity to Egat as promised this year."