Bangkok July 26th, 2023 – True Corporation announced the success beyond target after issuing 4 tranches of its first debentures after the amalgamation with fixed interest rate between 3.35 and 4.50% p.a. It has also exercised an additional 5 billion baht greenshoe option, making the total offering of 25 billion baht to support investors overwhelming demand, indicating strong investors confidence on the increasing potential of the new leading telecom-tech company in Thailand that combined all the best from True and dtac. The amalgamation has increased the company’s capabilities and business competitive edges in all aspects and ready for sustainable growth.
Miss Yupa Leewongcharoen, Co-Chief Financial Officer of True Corporation Plc revealed that “The first debentures offer under the new company after the amalgamation between True and dtac worth 20 billion baht has received outstanding response with full subscription within a short period of time. Therefore, we have allocated an additional 5 billion baht greenshoe option, making the total issue size of 25 billion baht. The subscription which was closed on July 24th, 2023 has been extremely successful. The company would like to thank all investors for their support through their investment on True debentures as well as to the 5 financial institutions as the debenture arrangers and the debenture holders representative to this beyond target achievement. This reflects the public’s confidence in the business potential of the new company that was assigned A+ credit rating with “Stable” outlook by Tris Rating Co., Ltd after the amalgamation, stepping up to be the No. 1 telecom-tech company in Thailand with the aspiration to deliver superior customer experiences through the combined strength of True and dtac.
The cash proceeds from debenture issuance will be used to refinance maturing debenture and/or loan and as a working capital to support the company’s growth”