TRUE Set to Issue 5 Sets of Debentures with Interest Rates of 3.10-4.70% for General Investors

CORRECT issues 5 sets of debentures with interest rates of 3.10-4.70% to be sold to general investors 26-30 January 2024 in order to use the proceeds from issuing debentures to repay debenture debt, pay for spectrum and/or use as cash ■ Working capital supports the company’s growth.

Public Company True Corporation Limited (TRUE) Issuance of debentures with the holder’s name indicated Non-standard, unsecured type with bondholder representatives Interest is paid every 3 months for the life of the bond. Subscriptions are expected to be open from 26 to 29 – 30 January 2024. The minimum subscription value is 100,000 baht and multiples of 100,000 baht each time, offered for sale in 5 sets as follows.

1. Debenture Set 1, term 1 year 3 months Fixed interest rate [3.10-3.20]% per year

2. The second set of bonds has a term of 2 years and 6 months. Fixed interest rate [3.50-3.70]% per year

3. Debenture No. 3, term 3 years 3 months Fixed interest rate [3.75-3.90]% per year

4. Debenture No. 4, term 5 years 3 months Fixed interest rate [4.10-4.25]% per year

5. Debenture No. 5, 10 year term Fixed interest rate [4.50-4.70]% per year

The issuer has the right to redeem the debentures when the debentures reach the end of the 5th year.

Bangkok Bank, Kasikorn Bank, Siam Commercial Bank, CIMB Thai, UOB and Asia Plus Securities are managing the bond sale this time.

The company is in the process of submitting a registration statement for the offering of debt securities. and the draft prospectus which is not yet effective. Because it is considered by the SEC Office.

The purpose of this bond issue is to use the proceeds from the bond issue to repay bond debt and/or to pay for spectrum and/or to use it as working capital to support the company’s growth.

Miss Yupa Leewongcharoen The Head of Financial Management (Joint) TRUE said that the company will offer to sell to investors in general (Public Offer).

The bonds have maturities between 1 year, 3 months and 10 years to support the needs of all groups of investors. Investors who like to invest in the short term can choose to invest in models from 1 year 3 months to 3 years 3 months. Investors who like to invest in the medium term can choose to invest in models of 5 years and 3 months.

Or investors who like to invest for the long term and need interest to use for daily expenses may choose to invest in the 10-year model because it gives a higher return.

Especially when compared to government bond yields or the Yield Curve which has fallen after major central banks such as the US Federal Reserve. The European Central Bank and the Bank of England start sending signals to stop raising interest rates. And some countries are starting to talk about cutting interest rates in 2024 after inflation starts to show signs of slowing.

Make investment in bonds during the period when central banks in different countries There is no cut in the interest rate as an attractive alternative. Especially bonds from companies with a high credit rating, and WIR is one of the interesting options. He has an A+ credit rating and has never had a history of defaulting or delaying debt repayment.

Both the company and the bonds are rated A+. Outlook “Stable” by TRIS Rating Company Limited on 27 September 2023, which better reflects the financial and business risk status.

Both have strong market positions in the mobile and broadband internet markets. Strengthen the military with a national network A comprehensive frequency set and a brand name trusted by users

In addition, there are positive macroeconomic factors such as Thailand’s expected GDP growth due to the recovery of the tourism sector after the COVID-19 situation. Beginning to return to normal

Ms Yupa said that this bond issue is a bond issue under TRUE that resulted from the merger and integration of strengths between True and DTAC. Makes the company have a stronger foundation This is reflected in operating results which have continued to improve in service income and the number of users in the last quarter.

Meanwhile, integration to improve efficiency and reduce structural costs led to three consecutive quarters of EBITDA growth. The company is confident that the bonds issued this time will be well received by general investors who want to invest in companies with a good, stable reputation and in industries that have positive results from economic expansion and tourism and which provides a good return on investment for the future

The company will continue to strive to improve its operations in order to provide better value to consumers and businesses. Ready to create new innovations To join in driving Thailand’s economy and society

In the third quarter of 2023, the company’s operating results tend to improve, supported by service income and the number of users that continue to increase. In addition, efficiency improvements and cost reductions after the merger will go according to plan.

As a result, the company has an operating profit before interest deductions. Tax and depreciation, or EBITDA, improved for the third consecutive quarter since the merger. As a result, the company’s financial position is even stronger.

In terms of combining signal networks into one network (Single Grid), which started operating last September. There has been a lot of progress according to the plan. It reinforces the company’s determination to provide better services to customers that continue to grow. With better signal quality through network expansion and efficient base station management.

The Single Grid project will progress fully in the 4th quarter as planned.

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