CKPower Still Going Strong: Nam Ngum 2 Debentures Rating “A/Stable” by TRIS Rating Sold Out as Water Inflow Continues
Mr. Thanawat Trivisvavet, the Managing Director of CK Power Public Company Limited (CKPower) and a Director of Nam Ngum 2 Power Company Limited (NN2), stated that the Nam Ngum 2 Company has recently issued debentures (Non-subordinated, Unsecured type) of 1,000 million baht in total value with a tenure of 3 years at interest rates of 3.2% per year and a tenure of 5 years at interest rates of 3.6% per year in order to pay off another 1,000 million baht debentures, which is due for payment in October 2020. The credit rating has been assigned to the second-round debentures at “A/Stable” by TRIS Rating Company Limited (“TRIS Rating”). Nam Ngum 2 Power Company Limited (NN2) is a subsidiary of CKPower that is registered as a juristic person in the Lao People’s Democratic Republic (Lao PDR) with installation capacity of 615 megawatts and selling all of its production to the Electricity Generating Authority of Thailand (EGAT).
After the payment is made to the existing debentures, the NN2 will have a total of 13,900 million bath worth of outstanding debentures already issued as of October 31, 2020. However, the Company still has a credit line of 2,100 million baht available to issue additional debentures although the Company is yet to schedule the issuance of such debentures.
“The Nam Ngum 2’s debentures continue to draw a lot of attention from investors like before. We have received more pre-orders than the amount initially offered; and the debentures sold out quickly. This shows that the confidence of our investors has not been affected by the global economic crisis caused by the spread of the Coronavirus (COVID-19). I am confident that the Nam Ngum 2 Hydroelectric Power Plant will still be able to produce and deliver electricity to EGAT as promised this year”, said Mr. Thanawat.
In his final remark, Mr. Thanawat, on behalf of the Company, expressed his appreciation and gratitude to investors for their continuous support and confidence.