CKPower's associate company to issue its first-ever Green Debentures in Thailand worth Baht 8.4 billion, including a greenshoe option worth Baht 3.4 billion following oversubscription

Mr. Thanawat Trivisvavet, Managing Director of CK Power Public Company Limited, or CKPower (stock symbol: "CKP"), one of the largest renewables-based power producers in the region, as an executive director of Xayaburi Power Company Limited (XPCL), disclosed on July 27, 2022 that XPCL, an associate company in which CKPower has 42.5% shareholding, had issued and offered for sale unsecured, unsubordinated Green Debentures no. 1/2022, with a debentureholders' representative, to institutional and high-net-worth investors in Thailand, with Bangkok Bank Public Company Limited, Krungthai Bank Public Company Limited, Siam Commercial Bank Public Company Limited, Kiatnakin Phatra Securities Public Company Limited, and Krungthai XSpring Securities Company Limitedappointed as joint lead arrangers. The company was pleased that the debentures garnered tremendous attention among investors, which put the final issue amount at Baht 8,395 million, consisting of the initial offering amount of Baht 5,000 million and an additional greenshoe option amount of Baht 3,395 million.

The Green Debentures are the first to be offered for sale by XPCL and have been assigned a rating of BBB+/stable by TRIS Rating Company Limited, while XPCL received a credit rating of A-/stable. The Green Debentures consist of three tranches, namely Tranche 1 Debentures in the amount of Baht 4,031 million with a fixed interest rate of 4.50% per annum and a tenure of 3 years maturing in 2025; Tranche 2 Debentures in the amount of Baht 1,258 million with a fixed interest rate of 4.75% per annum and a tenure of 4 years maturing in 2026; and Tranche 3 Debentures at the amount of Baht 3,106 million with a fixed interest rate of 5.00% per annum and a tenure of 5 years maturing in 2027.

XPCL, a company incorporated in the Lao PDR, has been awarded a concession by the Lao government to design, develop, construct, and operate the Xayaburi Hydroelectric Power Plant, which has an installed capacity of 1,285 MW. The concession period lasts 31 years from the commercial operation date, which was October 29, 2019.

XPCL generates approximately 7,600 GWh per year of hydroelectric power, which is considered an eco-friendly form of renewable energy, thereby avoiding the emissions of CO2 by around 3.8 million tCO2e. The green debentures were issued under XPCL's Green Bond Framework, which has been reviewed by DNV, the world's leading independent expert in assurance and risk management, to be in line with Green Bond Principles 2021, Green Loan Principles 2021, and ASEAN Green Bond Standards 2018 – a testament to XPCL's environmental standards.