True Corporation Public Company Limited (SET: TRUE)’s management recently disclosed that the sustainability-linked syndicated loan totalling JPY141.3 billion last month would save 0.8% of interest from the refinancing amount of THB31.7 billion which is equivalent to THB235 million per year.
TRUE announced late last month that the company has successfully closed its maiden sustainability-linked syndicated loan totalling JPY141.3 billion for refinancing or repayment of existing debt, making it the first telecom-tech company in Thailand to secure a sustainability-linked syndicated loan.
The loan is True Corporation’s inaugural entry into the Japanese yen financing market and is both the largest Japanese yen loan and largest sustainability-linked loan completed by a Thai corporation to date. The loan was launched with an initial size of JPY109.9 billion. Following keen interest from Japanese and international banks, the company exercised the Greenshoe option to upsize the loan to JPY141.3 billion.
Ms. Yupa Leewongcharoen, Chief Financial Officer (Co) of True Corporation Plc., stated: “We are pleased to have secured our maiden Japanese Yen sustainability-linked loan with overwhelming interest, marking a significant milestone for True Corporation. This initiative will diversify and expand our investor base, reduce financial risk, and enhance our financial flexibility with favourable terms. Additionally, it supports our climate action goals and reinforces our position as the world’s most sustainable telecom company.True Corporation has laid out a roadmap to become a sustainable telco-tech leader, focusing on achieving sustainable profitability and value through enhanced customer experiences, growth, and synergies. We are confident that this year will be a transformative one for profitable growth, while 2025 will be the year of sustainable profitability and value creation for our customers, the industry, the markets, and the entire country. This sustainable growth stems from synergy realization, disciplined cost control, leveraging technology to enhance services for maximum customer satisfaction, and prioritizing superior network quality.”
