"WHAUP" Successfully issued and offered Debentures for the total amount of Baht 5 billion

BackJun 28, 2018

Bangkok, WHA Utilities and Power PLC. (WHAUP) announces that the company has offered and issued three tranches of debentures worth Baht 5 billion, with maturity of 3-7 years and 2.65 – 3.66% coupon, arranged by Siam Commercial Bank Pcl. and Kasikorn Bank Pcl.

Mr. Wisate Chungwatana, Chief Executive Officer of WHA Utilities and Power PLC. (WHAUP), the leading provider of fully integrated utilities services for industries in WHA Industrial Estates and WHA Industrial Lands, including raw water, water for industries, wastewater treatment and power business in Thailand and overseas, said, “The company issued the Name-Registered Unsubordinated and Unsecured Debentures without Debentureholders’ Representative worth Baht 5 billion on 26 June.

The debentures are comprised of 3 tranches: Tranche 1 is Baht 2.39 billion, 3-year debenture due in 2021 with 2.65% coupon, Tranche 2 is Baht 1.29 billion, 5-year debenture due in 2023 with 3.17% coupon and Tranche 3 is Baht 1.32 billion, 7-year debenture due in 2025 with 3.66% coupon.

“Out of the total proceed from debenture issuance, the Baht 4 billion will be used to refinance bank loan to reduce financial debt burden as well as to lower interest expense. In Addition, the other Baht 1 billion will be utilized as future investment and working capital for business operations, all of which will drive WHAUP’s revenue.” Mr. Wisate Chungwatana said.

WHAUP has appointed Siam Commercial Bank Pcl. and Kasikorn Bank Pcl. as the Arrangers and all Baht 5 billion of WHAUP debentures have been placed with strong demand from both institutional and high net worth investors. This proves that investors have strong confidence in WHAUP and potential growth of the performance in long term. In addition, these debentures have been assigned for the credit rating of A-/ Stable by Tris Rating.

This debenture has been issued by virtue of the resolution of the Annual General Meeting of Shareholders dated 27 April 2018 for the issuance and offer of debentures in the amount of Baht 8 billion.