Gulf Energy Development Public Company Limited has issued unsecured and unsubordinated debentures worth a total of 25 billion baht, offered for sale to institutional investors and/or high net worth investors, with subscriptions exceeding sales by 1.96 times. The debentures offered by the company this time are divided into 5 sets: 1) 3-year debentures with an interest rate of 2.89% per annum, worth 2,500 million baht; 2) 4-year debentures with an interest rate of 3.15% per annum, worth 2,687 million baht; 3) 5-year debentures with an interest rate of 3.28% per annum, worth 10,013 million baht; 4) 7-year debentures with an interest rate of 3.53% per annum, worth 4,800 million baht; and 5) 10-year debentures with an interest rate of 3.76% per annum, worth 5,000 million baht. The average fixed interest rate is 3.37% and the average debenture age is 6.08 years. The Company has been rated “A+” with a “stable” outlook and the debentures have been rated “A” with a “stable” outlook by Tris Rating Co., Ltd. M s. Yupapin Wangwiwat, Deputy Chief Executive Officer and Chief Financial Officer of Gulf, said that the debenture offering was a great success. Although the debenture market situation remains volatile amidst investors’ concerns and caution in investing in debentures, the company still received better-than-expected responses, reflecting confidence in the company. Part of the fundraising will be used to repay debentures due in September, part will be used to repay the company’s short-term debts, and the remainder will be used to support investment expansion both domestically and internationally. Source: Thai News Agency