The first ever EGAT Sustainability Bond Issuance Warehouse

The Treasury Department issued its first ever 1 billion baht sustainability bond to lay an underwater cable on Koh Tao and to build a very small electricity network on Koh Phaluai. Mr. Patchara Anantasin, Director-General of the Public Debt Management Office, revealed that the PDMO helped find a source of loans for the Provincial Electricity Authority (PEA) by issuing the first sustainability bond worth 1 billion baht, 5-year series (PEA298A), with an interest rate of 2.67 percent per annum, not guaranteed by the Ministry of Finance, offered for sale to institutional investors, with the Asian Development Bank (ADB) acting as advisor and certifying the issuance of the bonds. This makes the PEA the first energy state enterprise to issue such bonds. The issuance of sustainability bonds by the PEA this time to invest in the construction project of the underwater cable to Koh Tao, Surat Thani Province and the development project of the very small electricity grid (Micro Grid) on Koh Phaluai, Surat Thani Province , has attracted interest from financial institutions, insurance companies, the Government Pension Fund, and the Social Security Office, which is 6 times more than the amount of the issuance. Bangkok Bank is the underwriter of the bonds. Follow the plan to issue state enterprise bonds that the Ministry of Finance has procured from the website of the Public Debt Management Office (www.pdmo.go.th). Source: Thai News Agency