WHA Utilities And Power Secures THB 2.5 Billion In Debenture Issuance, Including THB 800 Million In Green Bonds

WHA Utilities and Power Public Company Limited (WHAUP) has announced the successful issuance of debentures totaling THB 2,500 million, including THB 800 million in green bonds. The offering, which took place from July 9 to July 11, 2024, was significantly oversubscribed, highlighting strong confidence from institutional and high-net-worth investors in WHAUP’s business strategy and environmental commitment.

The debentures were issued in three tranches:

• Tranche 1: THB 400 million in regular debentures with a 3-year maturity and a fixed coupon rate of 3.28% per annum.
• Tranche 2: THB 800 million in green bonds with a 5-year maturity and a fixed coupon rate of 3.53% per annum.
• Tranche 3: THB 1,300 million in zero-coupon bonds with a maturity of 2 years and 10 months and a discount rate of 3.20% per annum.

The proceeds from the issuance, particularly the THB 800 million raised through the green bonds, will be allocated towards renewable energy projects. The remaining funds will be utilized to repay existing debt and for working capital purposes.

Mr. Prapon Chinudomsub, Chief Financial Officer of WHAUP, commented, “The strong response to our debenture issuance reflects the confidence investors have in our business fundamentals and growth potential. The green bonds, in particular, underscore our commitment to sustainability and environmental stewardship.”

The debentures have received an A- rating with a “stable” outlook from TRIS Rating Co., Ltd., which reflects WHAUP’s robust operating performance and financial stability. Kasikornbank Public Company Limited and Siam Commercial Bank Public Company Limited served as joint lead underwriters for the issuance.

Mr. Prapon also highlighted WHAUP’s ongoing commitment to expanding its business operations both domestically and internationally. In the utilities sector, the company is focusing on value-added water products, the development of the Smart Water Platform, and expanding its water services within and outside WHA Group’s industrial estates. In the energy sector, WHAUP continues to invest in renewable energy innovations and is exploring new opportunities, including electric vehicle charging stations, to support WHA Group’s Green Logistics business.

This debenture issuance reaffirms WHAUP’s leadership in the utilities and power sectors, driving innovation while adhering to environmental, social, and governance (ESG) principles to ensure sustainable growth.