BTS Group to offer 4 tranches

Editorial Staff

BTS Group ("BTS Group”) to offer 4 tranches of unsubordinated and unsecured debentures with debenture holders’ representative to the general public investors

BTS Group’sdebentures are assigned rating “A-” by TRIS Rating. The subscription period is expected to take place at the end of October 2023 with six leading financial institutions mandated as joint lead arrangers.

BTS Group Holdings Plc(BTS Group) is preparing to offer unsubordinated and unsecured debentures with a debenture holders’ representative in the name-registered to a general public. The Debentures consist of 4 tranches, including 2-year, 5-year, 10-year and 12-year debentures.

The subscription period is expected to take place during 30 October to 1 November 2023. With the issue credit rating “A”by TRIS Rating, BTS Group is confident that the debentures will be well-received by investors who are looking to invest in “investment grade” debentures of a company with potential growth to expand into variety of businesses beyond mass transit services, in accordance to its 3M strategy: MOVE, MIX and MATCH.

Ms. Chawadee Rungruang, chief financial officer of BTS Group Holdings Plc(BTS Group)revealed that the company is in the process of submitting the registration statement and draft prospectus for debentures issuance to the Securities and Exchange Commission (SEC).

The debentures will be offered to a general public and the subscription period is expected to be during 30 October to 1 November 2023. BTS Group appoints six leading financial institutions as joint lead arrangers, including Bangkok Bank, Krung Thai Bank , KASIKORNBANK, Siam Commercial Bank, CIMB Thai Bank, and Kiatnakin Phatra Securities.

The debentures are rated "A-", the same level as the company's credit rating with “stable” outlook by TRIS Rating company (TRIS Rating), announced on 19 September 2023. The rating reflects the company’s strong business profile based on the steady service income from operating and maintenance its Sky Train operation (O&M services), the sizable cash flow received from its 33.33% investment in the BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF) and its entrenched position in the media business.