GC to issue new Baht subordinated hybrid debentures, reflecting positive investor confidence and supporting long-term capital management plan

PTT Global Chemical Public Company Limited (GC), a global leader in the chemical business and the chemical flagship of PTT Group, announces its plan to issue a new Thai Baht-subordinated hybrid debentures. The debentures are expected to be offered to the general public through a Public Offering (PO) in late 2025 as part of GC's ongoing Deleveraging Program. The initiative aimed to strengthen the company's long-term capital structure, enhance financial flexibility, and ensure readiness amid global economic and geopolitical challenges, driving GC toward high-value, low-carbon sustainable growth.

Mr. Thitipong Jurapornsiridee, Executive Vice President - Finance and Accounting at GC, said, "This issuance is part of ongoing deleveraging plan, following the strong investor response to our THB 17 billion hybrid debentures issued in 2024. It reflected the confidence investors place in GC's and the PTT Group's solid fundamentals. GC remains committed to financial discipline and a systematic capital management roadmap aligned with our Portfolio Transformation strategy, ensuring readiness for sustainable growth in high-value and low-carbon businesses.

In 2025, GC has continued executing its deleveraging program, which covers the issuance of USD-subordinated hybrid debentures, asset monetization initiatives to optimize capital efficiency, and Holistic Optimization programs to enhance operational and financial performance. The upcoming Thai Baht subordinated hybrid debentures are another key step under GC's long-term capital management roadmap to reinforce financial resilience and support its credit rating.

In addition, GC continues to enhance competitiveness through innovation and digital technology, advancing its High Value-Low Carbon growth strategy. This includes expanding its specialty chemical business through allnex, a global leader in industrial coating resins, and its Bio/Green & Circularity business through NatureWorks, which is constructing the world's second bioplastic plant in Nakhon Sawan, Thailand. These efforts align with GC's commitment to sustainability and its roadmap toward achieving Net Zero by 2050.

The subordinated hybrid debentures also serve as a key instrument to strengthen the company's financial position. The debentures are recognized as 100% equity in accounting terms, while credit rating agencies grant 50% equity credit. The public offering is expected in late 2025 with minimum subscription amount is 100,000 Baht and additional multiples of 100,000 Baht, available through 12 financial institutions including Bangkok Bank, CIMB Thai Bank, KASIKORNBANK, Krung Thai Bank, Siam Commercial Bank, Kiatnakin Phatra Securities, Asia Plus Securities, Bank of Ayudhya, Krungthai XSpring Securities, Maybank Securities (Thailand), TMBThanachart and Yuanta Securities (Thailand). The interest rate and subscription period will be announced later.

The lead arrangers stated that GC's subordinated hybrid debentures represent an appealing investment choice, as on 8 April 2025, Fitch Ratings (Thailand) assigned GC a notional long-term credit rating of AA- (tha) with a "stable" outlook, and on 7 July 2025, rated the subordinated hybrid debentures at A (tha), placing them among the highly-rated instruments in the Thai bond market. The company's ability to repay principal and interest is reflected in its corporate credit rating of AA-. Subsequently, the credit rating for the subordinated hybrid debentures is two notches lower than the company's rating, due to the debentures' debt structure and characteristics that are subordinated to ordinary senior bonds.

Currently, GC is in the process of filing the registration statement and the draft prospectus, which are not yet effective. For more information, please contact the following 12 arrangers:

• Bangkok Bank Public Company Limited, at all branches (except Micro Branches), or call 1333, or subscribe online via Bangkok Bank Mobile Banking application (for individuals only).
• CIMB Thai Bank Public Company Limited, at all branches, or call 02-626-7777, or subscribe online via the CIMB Thai application
• KASIKORNBANK Public Company Limited (Retail investors can subscribe via online channel (https://www.kasikornbank.com/kmyinvest), non-residents can subscribe at head office and branches) or call 02-888-8888 press 869
• Krung Thai Bank Public Company Limited, at all branches, or call 02-111-1111, or subscribe online via Krungthai Next application through Money Connect by Krungthai (for individuals only).
• The Siam Commercial Bank Public Company Limited, at all branches, or call 02-777-6784, or subscribe online via the SCB EASY application (for individuals only), including InnovestX Securities Co., Ltd., as a sales unit of the Siam Commercial Bank Public Company Limited.
• Kiatnakin Phatra Securities Public Company Limited, or call 02-165-5555, or subscribe online via the application Dime! for individual general investors, including Kiatnakin Phatra Bank Public Company Limited, as a sales unit Kiatnakin Phatra Securities Public Company Limited.
• Asia Plus Securities Company Limited, call 02-680-4004
• Bank of Ayudhya Public Company Limited, at all branches, or call 1572
• Krungthai XSpring Securities Company Limited, call 02-695-5555
• Maybank Securities (Thailand) Public Company Limited, call 02-658-5050
• TMBThanachart Bank Public Company Limited, at all branches, or call 1428, press #4 (booking is open only to institutional investors), and at Thanachart Securities Public Company Limited as a sales agent of TMBThanachart Bank Public Company Limited.
• - Yuanta Securities (Thailand) Company Limited, call 02-0098351-56

Note:

• The registration statement and draft prospectus have not yet become effective as they are under the consideration of the Securities and Exchange Commission (SEC).
• The allocation of the debentures is at the discretion of the arrangers as deemed appropriate.

Disclaimer:

• Investments carry risks. Investors must study and understand the product characteristics, the conditions of returns, and the risks before making an investment decision.
• Investors can find more details in the information filing and draft prospectus at www.sec.or.th

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