Bangkok: PTT Global Chemical Public Company Limited (GC) closed its offering of a new series of subordinated, equity-like debentures worth a total of 10 billion baht. Investors responded positively, reinforcing confidence.
According to Thai News Agency, Mr. Titipong Chulpronsiridee, GC's Senior Executive Vice President of Finance and Accounting, stated that GC has successfully closed its offering of subordinated perpetual debentures with a total value of 10 billion baht, as targeted. The offering was well-received by a wide range of investors, reflecting the company's successful implementation of its efficient financial strategy and clear operational direction amid challenging economic and industrial conditions. GC would like to thank all investors for their trust, which is a significant support for driving stable and sustainable long-term growth.
GC's subordinated perpetual debentures have a 5-year, 6-month interest rate of 4.40% per annum, payable semi-annually, and will be offered to the general public (Public Offering) on November 27-28 and December 1-3, 2025, through 12 distributors. GC plans to use the proceeds to repay debt, invest, cover current business expenses, implement disciplined financial management, and maintain a flexible and stable capital structure over the long term. The offering also supports GC's high-value-low-carbon business growth strategy, aligning with GC's ESG (Economics) goals of operating socially and environmentally responsible businesses.
The underwriters stated that while the subordinated perpetual debentures carry higher risks than conventional debentures due to a more flexible repayment structure for the issuer, GC's strong fundamentals and confidence in the PTT Group led to a positive investor response. Furthermore, Fitch Ratings (Thailand) has assigned GC a credit rating of "AA-(tha)" with a "stable" outlook and an "A(tha)" rating for the subordinated perpetual debentures, the highest rating of this type in Thailand, reflecting GC's financial stability and confidence in GC.