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PTT Offers Digital Debentures Worth THB 1 Billion in Total via the DIF: Web Portal, Marking a Pioneering Move in Thailand. Reaffirmed its Leadership to Developing Thailand’s Debt Capital Market towards the Digital Capital Market

29 June 2023

           Ms. Pannalin Mahawongtikul, Chief Financial Officer, PTT Public Company Limited (PTT), revealed that PTT would like to express gratitude to all institutional investors who always support PTTs debentures, including the recent offering on May 10th, 2023, PTT successfully issued and offered THB 1 Billion debentures to institutional investors through the DIF: Web Portal, marking a pioneering move in Thailand. This project is under the SECs sandbox project to test the Web Portal system with real users as a part of the inventive project to push forward the development of Thailand's Digital Infrastructure (DIF) within the capital market, aimed at efficiently facilitating the debenture issuance of a private sector through a digital platform in the primary market. The debentures were rated "AAA (tha)" by Fitch Ratings (Thailand) Limited (as of April 20th, 2023), the highest level of local credit rating for debentures issued in the territory of Thailand. The two-year debentures with a coupon rate of 2.31% per annum were well-responded by the institutional investors, including mutual funds, non-life insurance companies, and government-related entities, which received overwhelming interest. Investors demand for the debentures exceeded the offering value by four times, amounting greater than THB 4 Billion. This reflects the investor's confidence in PTT's strong business status and growth.

           Amid global economic volatility, PTT maintains confidence in its operations and places importance on supporting the development of the Thai capital market towards digitization. This offering provided an investment opportunity to investors who desired to invest in a growth company with financial discipline and a strong financial position. As a result, the reasonable interest rate from the debentures provided an opportunity for PTT to effectively manage its financial costs," Ms. Pannalin said.

           The debentures were registered with the Thai Bond Market Association (ThaiBMA) and Bangkok Bank Plc., KASIKORNBANK Plc., and The Siam Commercial Bank Plc. were the joint lead arrangers of this transaction.