THORESEN THAI AGENCIES PLC Press Release
TTA CORPORATE| Shipping |Offshore Service| Agrochemical | Food & Beverage | Investment
For Immediate Release
TTA to Issue and Offer 2 Tranches of Debentures
Rated "BBB" with Stable Outlook by TRIS Rating
With Fixed Coupon Rates of 4.75% and 5.10% per Annum
Subscription from 8-10 November 2021
Bangkok, 1 November 2021 - Thoresen Thai Agencies Public Company Limited or TTA has prepared to issue and offer Debentures No. 2/ 2 5 6 4 under MTN program, which are unsubordinated and unsecured debentures with a debenture holder's representative in the name-registered certificate. The debentures will be offered in 2 tranches: the 3-year-and-3-month debentures with fixed coupon rate of 4.75% per annum and the 4-year-and-6-month debentures with fixed coupon rate of 5.10% per annum. The coupon will be paid every three months.
The issue size of 2 tranches of debentures will be up to THB 1,500 million with an additional greenshoe up to THB 500 million, making total issue size of THB 2,000 million. The debentures were assigned a credit rating of 'BBB' with Stable outlook by TRIS Rating on 23 August 2021.
TTA's debentures will be offered to general investors and/or institutional investors from 8-10 November 2021 through Asia Plus Securities, Globlex Securities, KGI Securities (Thailand), Krungthai Zmico Securities, KTBST Securities, and Yuanta Securities (Thailand) with the minimum subscription amount of THB 100,000 and subsequent multiplied of THB 100,000 for general investors.
Mr. Chalermchai Mahagitsiri, President and CEO of Thoresen Thai Agencies Public Company Limited or TTA, revealed that " The proceeds of this offering will be used to repay the debentures and as working capital to strengthen our businesses and to increase liquidity. Currently, Shipping Segment is
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THORESEN THAI AGENCIES PLC Press Release
TTA CORPORATE| Shipping |Offshore Service| Agrochemical | Food & Beverage | Investment
projected to grow while Offshore Service Segment, which recently secured multiple contracts in Thailand, Angola and Saudi Arabia, has prepared to provide a comprehensive range of subsea services."
Currently, TTA has the strong balance sheet with cash under management of around THB 7.5 billion, leading to a strong capital structure with low net-interest-bearing-debt to equity at 0.06 times as of 30 June 2021. Moreover, TTA neither has record of any default in payment of principal and/or interest of debentures nor failure to comply with any terms and conditions of debentures ever.
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About TTA
Thoresen Thai Agencies Public Company Limited, or TTA, is a strategic investment holding company that is listed on the Stock Exchange of Thailand, with an investment policy to achieve growth through a balanced portfolio that is diversified both locally and internationally. Included in its current business portfolio are shipping, offshore service, agrochemical, food & beverage and investment.
For more information, please contact: Thoresen Thai Agencies Plc.
Natasa Urcharoenngan | E-mail:natasa_u@thoresen.com |
Tel: +662 254 8437 ext.332 | Mobile: +668 3492 2442 |
Thanit Tirapanith | E-mail:thanit.t @thoresen.com |
Tel: +66 2254 8437 Ext. 393 | Mobile: +669-3-559-6169 |
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Thoresen Thai Agencies pcl published this content on 01 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2021 07:16:03 UTC.