Investors Flocked to Subscribe to WHAUP Bond and Green Bond Worth THB 2.8 Billion, Reflecting Confidence in the Company

Bangkok – WHA Utilities and Power Public Company Limited (WHAUP) has successfully offered debentures, worth a total of THB 2,800 million, including Green Bond worth THB 1,800 million. Institutional investors and high net worth investors warmly welcomed WHAUP’s debentures with confidence in the company’s business potential and fundamentals, reaffirming its leadership in the fully integrated utilities and energy businesses along with its commitment on environment.

Mr. Somkiat Masunthasuwun, WHAUP Chief Executive Officer, revealed that the company has been highly successful in the offering of debentures No. 2/ 2022 for an amount of THB 2,800 million to institutional investors and high net worth investors. The debentures were offered on 30-31 May 2022 and arranged by two joint arrangers – Kasikorn Bank and Siam Commercial Bank. The debenture offering consists of two tranches: Tranche 1 is 3-year Green bond worth a total of THB 1,800 million with a fixed coupon rate of 3.06% p.a.; Tranche 2 is 5-year Plain Vanilla Bond of THB 1,000 million with a fixed coupon rate of 3.71% p.a..

The success in debenture issuance, especially the green bond which is offered for the first time, reflects investor's confidence in the company’s business fundamentals, financial strengths, as well as its growth potential. It also stresses the company’s commitment to do business with environmental care and strive towards sustainable development which are the core impetus of the company's business operations.

The proceeds from green bond worth THB 1,800 million will be used to support the company's investments in solar energy-related projects, both existing and new projects while the proceeds from the plain vanilla bond of THB 1,000 million will be used to pay off the existing debt.

The company's debentures have been assigned a credit rating of A- with stable outlook by TRIS Rating Co., Ltd.. This reflects the company’s solid operating performance, business outlook, financial strengths, and steady cash flow.

Chief Executive Officer of WHAUP added that the company will continue developing businesses and stay focused on sustainable growth both in Thailand and internationally. It also utilizes technologies and innovations that can enhance efficiency of the company's business operations as well as add value and offer various solutions for customers, such as new utilities and renewable energy, especially solar energy. This reaffirms the company’s leadership in the fully integrated utilities and power businesses.