Bangkok: Bangkok Aviation Fuel Services Public Company Limited (BAFS) is gearing up to issue debentures aimed at supporting its future business expansion.
According to Thai News Agency, ML Natthasit Diskul, CEO of BAFS, has announced that the company plans to release unsecured, unsubordinated debentures with a debenture holder representative. These debentures will have a term of 3 years and 9 months, offering a fixed interest rate ranging from 4.75% to 5.10% per annum. Interest payments are scheduled every 6 months throughout the term. The debentures have been rated 'BBB (tha)' by Fitch Ratings (Thailand), underscoring confidence in BAFS's robust financial structure, bolstered by its recognized performance in the aviation refueling sector.
The debentures are set to be offered to institutional and major investors, with the subscription period expected between 9 and 13 - 14 May 2025. Distribution will be managed by Yuanta Securities (Thailand) Co., Ltd., Asia Plus Securities Co., Ltd., and Krungsri Securities Public Company Limited. Each unit will be priced at 1,000 baht, requiring a minimum subscription of 100,000 baht in multiples of 100,000 baht, with a total offering value of 1,000 million baht. Additional details can be found at www.sec.or.th or through the financial institutions managing the bond distribution.
ML Natthasit highlighted BAFS's continuous investments aimed at enhancing the company's potential and strength. In 2024, BAFS achieved a net profit for the first time since the COVID-19 outbreak in 2019, with total revenue of 3,507 million baht, marking a 14% increase from the previous year. The company also reported an EBITDA of 1,594.3 million baht, a 21% increase, and a net profit of 102.9 million baht, reflecting a 175% increase compared to the previous year. Furthermore, BAFS has reaffirmed its leadership in the energy service sector by initiating the Northern Oil Pipeline System Phase 3 project (Ang Thong-Saraburi) in January, which is expected to commence commercial service by 2026.