New Issue: Thailand's PTT issues 20 billion baht of debentures in two tranches

By Marisa Wong

Madison, Wis., Jan. 27 - PTT PCL said it issued 20 billion baht of unsubordinated debentures in two tranches on Friday.

The first tranche of debentures, totaling 1.95 billion baht, has a fixed coupon of 3.8% and is due Oct. 17, 2015. The second tranche, totaling 18.05 billion baht, due Nov. 15, 2018 has an initial interest rate of 4% that steps up to 4.4% in year five and to 5½% in year six.

Bangkok Bank PCL, Krung Thai Bank PCL, Bank of Ayudhya PCL, Kasikorn Bank PCL, TMB Bank PCL, Siam Commercial Bank PCL and Thanachart Bank PCL were the arrangers for the offering.

The debenture issuance is part of the company's five-year plan to raise 110 billion baht of funds for financing investment plans, for working capital and for refinancing outstanding debt. The company said it has already raised 30.5 billion baht.

The debentures have been rated AAA by Fitch Rating (Thailand) Ltd.

PTT is a state-owned oil and gas company based in Bangkok.

Issuer:	PTT PCL
Issue:	Unsubordinated debentures
Amount:	20 billion baht
Arrangers:	Bangkok Bank PCL, Krung Thai Bank PCL, Bank of Ayudhya PCL, Kasikorn Bank PCL, TMB Bank PCL, Siam Commercial Bank PCL and Thanachart Bank PCL
Settlement date:	Jan. 27
Tranche 1
Amount:	1,950,530,000 baht
Maturity:	Oct. 17, 2015
Coupon:	3.8%
Tranche 2
Amount:	18,049,470,000 baht
Maturity:	Nov. 15, 2018
Coupon:	4% for first four years, 4.4% in year five, 5½% in year six

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