WHAUP successfully issues THB 3 Billion bond for business expansion

WHA Utilities and Power Plc. (WHAUP) has successfully issued 2-year 10-month and 10-year bonds in mid-February 2020. With KBank as sole underwriter, the deal was overwhelmingly booked by institutional investors.

Mr. Natthapatt Tanboon-ek, Chief Financial Officer of WHAUP, said: “This issuance clearly reflects investor confidence in our strong business fundamentals, ample financial structure, and track record on business expansion achievements. For this issuance, we issued 2 tranches of bonds, 2 years 10 months and 10 years, with equal size of THB1.5 Billion. Demand for this issuance is more than twice the amount we targeted to raise. This is the first time WHAUP issues 10-year bonds. On top of the competitive coupon rate we achieved, averaging 2.765%, we also broadened our bond investor base, especially for the 10-year tranche. More importantly the success of this issuance confirms our company’s solid capabilities to raise suitable funds to support our continuing business expansion.”