Gulf Energy Development Public Company Limited provided notification to the Stock Exchange of Thailand that on April 1, 2024, the Company issued unsubordinated and unsecured debentures with a total value of THB 20,000 million offered to institutional and/or high net worth investors. Initially, the Company expressed its intention to issue and offer debentures valued THB 15,000 million; however, a considerable number of institutional and high net worth investors expressed interest in the debentures and indicated their intention to subscribe in the offerings, resulting in an oversubscription of 3.1 times. The Company therefore exercised its greenshoe option of THB 5,000 million, totaling THB 20,000 million.

The Company's debenture issuance was allotted in series of 5 tranches; namely 1) THB 2,000 million debenture with a 3-year tenor at an interest rate of 3.03% per annum, 2) THB 4,528 million debenture with a 4-year tenor at an interest rate of 3.35% per annum, 3) THB 6,472 million debenture with a 5-year tenor at an interest rate of 3.37% per annum, 4) THB 3,000 million debenture with a 7-year tenor at an interest rate of 3.55% per annum, and 5) THB 4,000 million debenture with a 10-year tenor at an interest rate of 3.84% per annum. The average tenor for the debentures is 5.87 years, with an average interest rate of 3.45%. The Company appointed Bangkok Bank Public Company Limited, Krung Thai Bank Public Company Limited, KASIKORNBANK Bank Public Company Limited, United Overseas Bank (Thai) Public Company Limited, Kiatnakin Phatra Securities Public Company Limited and Siam Commercial Bank Public Company Limited as Joint Lead Arrangers.

The subscription period for the debentures was between March 27-29, 2024, and the issue date was on April 1, 2024.