TTA Successfully Completes New Bond Issuance Worth 800 million Baht, Reinforcing Investor Confidence

Mr. Chalermchai Mahagitsiri, President and Chief Executive Officer of Thoresen Thai Agencies Public Company Limited (TTA), disclosed, "The company has successfully issued and offered unsubordinated and unsecured bonds to general and/or institutional investors, with a total value of 800 million baht. The bonds, offered from January 27 to 29, 2025, were fully subscribed in a short period. This strong demand underscores the trust investors have in TTA's current and long-term performance."

"The funds raised from this bond issuance will be used to redeem existing bonds maturing in February 2025. This aligns with our strategy to enhance financial flexibility and strengthen our capital structure, while supporting the group's future business expansion as we strive to achieve our vision of becoming 'the most trusted Asian investment group." Mr. Chalermchai added.

TTA extended its gratitude to all investors for their trust and to the five lead bond underwriters—Bluebell Securities Co., Ltd., Asia Plus Securities Co., Ltd., CGS International Securities (Thailand) Co., Ltd., Krungthai XSpring Securities Co., Ltd., and Yuanta Securities (Thailand) Co., Ltd., for their pivotal role in ensuring the success of this bond issuance.

This bond has a tenor of 2 years and 3 months, with a fixed interest rate of 4.40% per annum, and interest payments scheduled every three months throughout the debenture's term. The redemption is set for the year 2027. Both the company and the bonds hold a credit rating of "BBB+" with a "STABLE" as assessed by TRIS Rating Company Limited. As of the third quarter of 2024, TTA's financial position remains robust, with cash under management amounting to 9.1 billion baht. The company maintains a low interest-bearing debt-to-equity ratio of 0.44 times and has a clean track record with no instances of defaulting on debt payments or breaching bond conditions.

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