EDL Generation Public Company (EDL-Gen) is aiming for 5-7 July as the subscription date for its multi-billion-baht bonds with a 5.90% interest rate, payable every three months, which would be made available to institutional and high net worth investors through KTBST Securities Public Company Limited, Globlex Securities Company Limited, Finansia Syrus Securities Public Company Limited, Phillip Securities (Thailand) Public Company Limited, Merchant Partners Securities Company Limited and AIRA Securities Public Company Limited.
"We are confident that these bonds will be keenly accepted by Thai investors, thanks to EDL-Gen's strong fundamentals," said Adisorn V. Singsacha, Founder and Chief Executive Officer of Twin Pine Group, a leading advisor in fund raising in CLMVT region and serves as a sole advisor for EDL-Gen on this bond issuance transaction.
The bonds carry a 3-year term with a fixed interest rate 5.90% per annum payable every three months.
The bonds being offered are at 1,000 baht per unit with a minimum subscription amount of 100 units.
Total offerings are limited to not more than six million units and the bonds are unsubordinated, unsecured, with bondholders' representative and will be matured in 2024.
Subscriptions of the bonds would be made available between 5-7 July through underwriters consisting of KTBST Securities Public Company Limited, Globlex Securities Company Limited, Finansia Syrus Securities Public Company Limited, Phillip Securities (Thailand) Public Company Limited, Merchant Partners Securities Company Limited and AIRA Securities Public Company Limited.
The bonds are expected to be enthusiastically subscribed because EDL-Gen is a major clean energy power producer of Lao PDR with robust operations based on its track record and ongoing plans to raise its installed capacity to 2,435 megawatts from 1,683 MW currently.
The planned increase in capacity will essentially support the growing demand for electricity in the ASEAN region.
There are memorandums of understanding (MoU) in place for Lao PDR to supply up to 9,000 MW to Thailand and more than 11,000 MW to Cambodia and Vietnam.
"We believe these EDL-Gen bonds will be well embraced for EDL-Gen being a leading clean energy producer in the region with steady operating cash flow and increasing contractual power supplies to Lao PDR's neighbouring countries as the Covid-19 situation gets better and the regional economy improving, noted Mr. Adisorn.