- Fixed interest rates ranging from 3.35 – 4.00% per annum with maturities of 3 to 10 years
- Tentative subscription period: February 6-7 and 10, 2025
True Corporation Public Company Limited (SET: TRUE), Thailand’s leading telecom-tech company and the global leader in sustainability with the highest DJSI 2024 score in the world in the telecommunications sector for seven consecutive years, announced new debenture offerings of four tranches with maturities ranging from 3 to 10 years and fixed coupon between 3.35% and 4.00% per annum. The debentures are rated “A+” with a “Stable” outlook by TRIS Rating as of December 13, 2024, reflecting the company’s robust position in both telecommunications and digital technology businesses.
The subscription period is set for February 6–7 and February 10, 2025, through seven leading financial institutions: Bangkok Bank, KASIKORNBANK, Siam Commercial Bank, CIMB Thai Bank, United Overseas Bank, Kiatnakin Phatra Securities, and Asia Plus Securities. Subscriptions can also be made via the TrueMoney Wallet app, with the Bank of Ayudhya serving as the registrar and debenture holder representative.
Ms. Yupa Leewongcharoen, Chief Financial Officer (Co) of TRUE, stated, “True Corporation continues to demonstrate consistent growth and leadership as Thailand’s top telecommunications and technology provider. In Q3 2024, the company reported an adjusted net profit of THB 3.1 billion and achieved consecutive EBITDA growth for the seventh quarter. True Corporation currently serves 12.4 million 5G subscribers, representing a 5.4% increase from the previous quarter.
We are introducing new TRUE debentures with various tenors, designed to appeal to a wide range of investors including short-term (3 years), medium-term (5 years), and long-term (7 years and 10 years), with longer tenors offering higher returns. The proceeds from these debentures will be used to refinance existing debentures.
With our ongoing operational and financial improvements, we believe TRUE debentures offer an attractive investment opportunity. In addition, with the current downward trend in interest rates, investing in TRUE debenture presents an opportunity for investors to secure long-term returns.”
TRUE has submitted a registration statement and draft prospectus with the Securities and Exchange Commission (SEC) for a public offering of its new debentures. These debentures, with tenors ranging from 3 to 10 years, are unsubordinated and unsecured with debentureholders’ representatives. The company and its debentures are rated “A+” with a “Stable” outlook by TRIS Rating as of December 13, 2024. The debentures are expected to be available for subscription from February 6–7 and 10, 2025, with a minimum subscription amount of THB 100,000 and a multiple of THB 100,000. The coupon will be paid every 3 months throughout the debentures’ term with details as follows :
- 1st Tranche: 3-year tenor with a fixed coupon rate of 3.35% per annum.
- 2nd Tranche: 5-year tenor with a fixed coupon rate of 3.60% per annum.
- 3rd Tranche: 7-year tenor with a fixed coupon rate of 3.85% per annum.
- 4th Tranche: 10-year tenor with a fixed coupon rate of 4.00% per annum, with a call option since the 5th year.
The company is currently in the process of submitting the registration statement and draft prospectus, which are not yet effective and are pending approval by the Securities and Exchange Commission (SEC).
