LATEST PRESS RELEASES

    UOB (Thai) completes THB 2 billion bond issuance for Siamgas and Petrochemicals PCL (SGP) with a partial guarantee by the CGIF

    Mr. Tan Choon Hin, CEO and President of United Overseas Bank (Thai)
    Mr. Worawit Weeraborwornpong, Chairman of Executive Board and President of Siamgas and Petrochemicals Public Company Limited,
    Mr. Kiyoshi Nishimura, CEO of the Credit Guarantee and Investment Facility

    United Overseas Bank (Thai) (UOB (Thai)) and the Credit Guarantee and Investment Facility (CGIF)[1] have completed the first CGIF-guaranteed THB bond issue for a Thai company in Thailand.

    With CGIF’s partial guarantee of 85 per cent, the five-year THB 2 billion (USD 64 million) bond issuance by Siamgas and Petrochemicals PCL (SGP), has a coupon rate of 3.03 per cent per year. SGP, Thailand’s second largest liquid petroleum gas (LPG) distributor, aims to raise long-term funds from institutional investors at a fixed rate through the Thai bond market.

    The transaction is also SGP’s first A-rated bond issuance. UOB (Thai) was the structuring adviser and one of the joint lead underwriters for this transaction.

    Mr. Tan Choon Hin, President and CEO of UOB (Thai), said, “A strong credit rating is key to a successful bond issuance and to the issuing company attracting a wider investor base. To help SGP raise funds from institutional investors, we tapped UOB Group’s extensive regional network, deep knowledge of Asian credit and strong understanding of the company’s financing needs.”

    Mr. Worawit Weeraborwornpong, Chairman of Executive Board and President of SGP, said, “We have had a relationship with UOB (Thai) for more than 20 years. We value the Bank’s insights, advice and bespoke financial solutions. Through its network and experienced financial advisers, UOB (Thai) has provided sound advisory on our bond issuance to meet our investment needs and we trust that UOB (Thai) will continue to be a reliable banking partner to help us grow sustainably.”

     

    [1] CGIF is a multilateral facility established by Asean+3 (China, Japan, and Korea) and the Asian Development Bank. CGIF was established to develop and strengthen local currency and regional bond markets in the Asean+3 region.

    9 May 2018
    For More information, please contact
    Strategic Communications and Customer Advocacy
    United Overseas Bank (Thai) Pcl.
    Yada Srisammasheep Tel. 0-2343-4965