Mr. Pajongwit Pongsivapai, Chief Financial Officer and Executive Vice President of Glow Group, commented: "We are very pleased to have received trust and confidence from the Bank of Ayudhya who has been a firm financial supporter of Glow Group. This financing will be used primarily to refinance debentures maturing in 2018 and to support our project investments."
"The Company has maintained our focus on financing cost management. During the past three years, we have been able to secure new loans and issue new debentures totaling approximately 9,000 MTHB with very attractive interest rates which helps reduce our interest expenses by more than 200 MTHB per year and maintain low debt to equity ratio at 0.7. This reflects confidence of financial institutions and investors in our solid business fundamentals and financial strengths."
Mr. Masaaki Suzuki, Head of JPC/MNC Banking Group of Bank of Ayudhya PCL, commented: "It is our great pleasure to provide financial support for the Glow Group, a member of the Engie Group, being one of the world's largest energy providers and a valuable customer of MUFG, our financial group. We are committed to being a long-term partner to contribute to the growth of our customer's business."
About Glow Energy
Glow Energy is a member of the Glow Group who is a major energy player in Thailand. Glow Group combined installed capacity is 3,207 MW (Glow's stake is 2,891 MW) of electricity and 1,206 tons per hour of steam.
Glow Group generates and supplies electricity to the Electricity Generating Authority of Thailand (EGAT) under Thailand's SPP (Small Power Producer) and IPP (Independent Power Producer) programs, as well as electricity, steam, industrial water and services to large industrial customers principally located in the Map Ta Phut area and nearby.
ENGIE (previously known as GDF SUEZ), a global energy player, is Glow Energy's major shareholder.
For more information about the Glow Group, visit www.glow.co.th. For more information about ENGIE, visit www.engie.com.