BCPG’s Green Bonds Receive Overwhelming Response, Reflecting Trust from Investors
BCPG receives an overwhelming response on Green Bond Issuance, reflecting trust from investors.
BCPG Public Company Limited (BCPG), a leading renewable energy company in Thailand and Asia-Pacific, successfully drew massive interest from investors on the Company’s first Green Bond Issuance with nearly three times a response higher than the targeted offering value of THB 10,000 million senior unsecured debentures.
“From the book building, BCPG received an overwhelming response from investors, which reflected the Company’s robust business performance and financial position. Due to such a remarkable response, the Company, therefore, decided to increase the amount of debenture issuance from THB 10,000 million to THB 12,000 million”, said Bundit Sapianchai, BCPG’s CEO.
Proceeds from debentures will be used for refinancing the secured loan of BCPG’s geothermal power plant in Indonesia, and for improvement and investment of the Company’s solar power plants in the future.
BCPG’s debentures were divided into five tranches;
- THB 2,000 million for a 3-year maturity with an interest rate of 1.64% per year
- THB 1,000 million for a 5-year maturity with an interest rate of 2.14% per year
- THB 1,000 million for a 7-year maturity with an interest rate of 2.51% per year
- THB 4,000 million for a 10-year maturity with an interest rate of 3.31% per year
- THB 4,000 million for a 12-year maturity with an interest rate of 3.61% per year
The debentures will be offered to institutions and High-Net-Worth investors by Bangkok Bank PCL and Kiatnakin Phatra Securities PCL on Sep 10 and Sep 13-14, 2021.
BCPG’s green bond is reviewed and certified by DNV and Climate Bonds Initiative (CBI) to comply with Green Bond Principles, ASEAN Green Bond Standards, and CBI’s Climate Bonds Standard V.3.0. Also, TRIS Rating assigned the rating of A- on BCPG’s green bond with a stable outlook.