WHAUP Sold Out Debentures-Green Bonds Worth THB 3.5 Billion, Reflecting Investor Confidence in the Company

Mr. Somkiat Masunthasuwun, Chief Executive Officer of WHA Utilities and Power Public Company Limited (WHAUP), revealed that the company has been highly successful in the offering of debentures No. 2/ 2023 for an amount of THB 3,500 million to institutional investors and high net worth investors. The subscription period, held during 12-14 May 2023, was arranged by two underwriters - Kasikorn Bank and Bank of Ayutthaya. The debentures consist of two tranches: Tranche1 is a regular debenture of THB 3,000 million, with 3-year maturity and a fixed 3.26% coupon rate per annum; Tranche2 is for Green Bonds valued a total of THB 500 million, with 5-year maturity and a fixed 3.55% rate per annum.

For the proceeds from the debenture issuance, the funds raised from the Green Bonds worth THB 500 million will be used to fund the company's investments in existing solar energy-related projects. And the remainder will be used to pay off existing debts with due balance and reserve as working capital.

The success in debenture issuance reflects investor's confidence in the company's business fundamentals and financial strengths, as well as its growth potential. It also stresses the company's commitment to do business with environmental concerns and strive towards sustainable development.

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 operating performance, business outlook, financial strengths, and steady cash flow.

Chief Executive Officer of WHAUP noted that the company will continue developing businesses, both utilities and power in Thailand and abroad. It will also stay focused on utilizing intelligent technologies and innovations that can enhance products and services for customers such as new utilities and renewable energy, especially solar energy, and other clean energy solutions. This reaffirms the company's leadership in the fully integrated utilities and power businesses while having strong commitments in building business with sustainable growth together with all stakeholders.