Ms. Yupapin Wangviwat, Chief Financial Officer of GULF, revealed that GULF plans to issue and offer four tranches of debentures, including one digital debenture, to retail investors. The debentures are name-registered, unsubordinated and unsecured, with a debenture holders' representative, comprising: (1) Tranche 1 with a 4-year tenor; (2) Tranche 2 with a 5-year tenor; (3) Tranche 3, a digital debenture with a 7-year tenor; and (4) Tranche 4 with a 10-year tenor. Interest will be paid semi-annually throughout the respective tenors of the debentures.
The debentures offered in this offering have been assigned a credit rating of "AA-" with a "Stable" outlook by TRIS Rating Company Limited on 24 August 2026, underscoring GULF's strong business capabilities and operating strength across the energy, infrastructure, digital, and telecommunications sectors. GULF has submitted the registration statement and draft prospectus for the proposed debenture offering to the Securities and Exchange Commission (SEC) for consideration and approval. Details of the coupon rates will be announced at a later date. The subscription period for all four tranches of debentures, including the digital debenture, is expected to be from 19 - 21 October 2026.
Tranches 1, 2, and 4 will be offered through eight leading financial institutions acting as Joint Lead Arrangers, comprising: (1) Bangkok Bank Public Company Limited; (2) Krung Thai Bank Public Company Limited; (3) KASIKORNBANK Public Company Limited, together with KASIKORN Securities Public Company Limited as its selling agent; (4) The Siam Commercial Bank Public Company Limited, together with InnovestX Securities Company Limited as its selling agent; (5) United Overseas Bank (Thai) Public Company Limited; (6) Bank of Ayudhya Public Company Limited; (7) CIMB Thai Bank Public Company Limited; and (8) Asia Plus Securities Company Limited. The debentures will be offered at THB 1,000 per unit, with a minimum subscription amount of THB 100,000 and subsequent subscriptions in multiples of THB 100,000.
Tranche 3, the digital debenture, will be offered through the "Paotang" application, with Krung Thai Bank Public Company Limited acting as the sole Lead Arranger. The digital debenture will be offered at THB 1,000 per unit, with a minimum subscription amount of THB 1,000 and subsequent subscriptions in multiples of THB 1,000, subject to a maximum subscription amount of THB 50 million per transaction.
Ms. Yupapin Wangviwat added that the 7-year digital debenture offered through the "Paotang" application will provide an opportunity for retail investors seeking an alternative investment that offers stable and consistent returns. With a minimum subscription amount of only THB 1,000, the digital debenture is designed to make investing in GULF debentures more convenient and accessible to retail investors. GULF therefore expects to receive a positive response from investors.
GULF intends to use the proceeds from this offering to repay maturing debentures and support its investment expansion plans. Its investment strategy will continue to focus on renewable energy businesses, including solar and wind power projects, as well as digital infrastructure businesses such as data centers, cloud services, and artificial intelligence (AI), supporting GULF's long-term growth.
GULF reported another quarter of robust earnings growth in 2Q2026, achieving a record-high core profit of THB 12.33 billion, up 74%YoY, while total revenue increased 24%YoY to THB 50.29 billion. The strong performance was primarily driven by continued growth across its energy portfolio, including natural gas-fired and renewable power generation, as well as its gas resource business covering natural gas procurement and wholesale trading. GULF also recorded a significant contribution from its share of profits in AIS.
Joint Lead Arrangers and Subscription Channels
Investors interested in subscribing to the debentures may obtain further information from the draft prospectus available at www.sec.or.th or contact the Joint Lead Arrangers through the following channels:
- Bangkok Bank Public Company Limited (except Micro Branches), Tel. 1333, or subscribe via the Bangkok Bank Mobile Banking application for individual retail investors.
- Krung Thai Bank Public Company Limited, Tel. 02-111-1111. Individual investors may also subscribe online via Money Connect by Krungthai on the Krungthai NEXT application (for Tranche 1, 2 and 4) or Corporate Bond wallet via Paotang application (for Tranche 3).
- KASIKORNBANK Public Company Limited, Tel. 02-888-8888, press 869. Individual investors may subscribe online via the K PLUS application. This includes KASIKORN Securities Public Company Limited acting as a selling agent of KASIKORNBANK.
- The Siam Commercial Bank Public Company Limited, Tel. 02-777-6784, or subscribe via the SCB EASY application for Thai individual investors. This includes InnovestX Securities Company Limited acting as a selling agent.
- United Overseas Bank (Thai) Public Company Limited, at all branches or Tel. 02-285-1555.
- Bank of Ayudhya Public Company Limited, Tel. 1572, or subscribe via the krungsri app for individual retail investors.
- CIMB Thai Bank Public Company Limited, Tel. 02-626-7777. Individual retail investors may also subscribe online via the CIMB Thai application.
- Asia Plus Securities Company Limited, Tel. 02-680-4004
For the digital debentures, investors may register for a debenture trading wallet via the "Paotang" application. Details regarding registration and the debenture trading wallet are available at www.krungthai.com/th/krungthai-update/promotion-detail/916 For further information, please contact Krung Thai Bank Public Company Limited at Tel. 02-111-1111