True Corporation announced a resounding success with its first debenture issuance after the amalgamation with dtac, as all four tranches received full subscription, totalling 25 billion baht. The fixed interest rates for the debentures ranged between 3.35% and 4.50% per annum. To cater to the overwhelming demand from investors and showcase their confidence in the new leading telecom-tech company in Thailand, True Corporation exercised an additional 5 billion baht greenshoe option.
The successful amalgamation of True and dtac has elevated the company's capabilities and strengthened its competitive edge across all aspects, positioning it for sustainable growth in the market.
Ms Yupa Leewongcharoen, Co-Chief Financial Officer of True Corporation Plc, expressed delight at the outstanding response to the debenture offer, which was worth 20 billion baht initially, but was fully subscribed within a short period of time. Consequently, they extended the offering by 5 billion baht through the greenshoe option, bringing the total debenture issuance to 25 billion baht. The subscription, which concluded on July 24th, 2023, was an immense success.
True Corporation expressed gratitude to all investors who showed their support through the debenture investment and acknowledged the significant role played by the five financial institutions serving as the debenture arrangers and debenture holders' representatives in achieving this remarkable outcome. The public's confidence in the new company's business potential was evident, as reflected in the A+ credit rating with a "Stable" outlook assigned by Tris Rating Co., Ltd after the amalgamation, positioning the company as the leading telecom-tech enterprise in Thailand. The company aspires to deliver superior customer experiences through the combined strength of True and dtac.
The cash proceeds from the debenture issuance will be utilised to refinance maturing debentures and/or loans, as well as to support the company's working capital and foster further growth.