Bangkok (29 March 2018) – Mr. Masaaki Suzuki (2nd left), Krungsri Head of JPC/MNC Banking, and Mr. Pajongwit Pongsivapai (2nd right), Chief Financial Officer and Executive Vice President of Glow Energy PCL,signed an agreement to provide a 4-billion-baht loan facility for Glow Energy’s capital expenditures and refinancing. Glow Energy, part of Engie SA, the world’s leading energy group, is Thailand’s leading generator and supplier of electricity, steam and processed water for industrial use.
Mr. Pajongwit Pongsivapai, Chief Financial Officer and Executive Vice President of Glow Group, commented: “We are very pleased to have received trust and confidence from the Bank of Ayudhya who has been a firm financial supporter of Glow Group. This financing will be used primarily to refinance debentures maturing in 2018 and to support our project investments.”
“The Company has maintained our focus on financing cost management. During the past three years, we have been able to secure new loans and issue new debentures totaling approximately 9,000 MTHB with very attractive interest rates which helps reduce our interest expenses by more than 200 MTHB per year and maintain low debt to equity ratio at 0.7. This reflects confidence of financial institutions and investors in our solid business fundamentals and financial strengths.”
Mr. Masaaki Suzuki, Head of JPC/MNC Banking Group of Bank of Ayudhya PCL, commented: “It is our great pleasure to provide financial support for the Glow Group, a member of the Engie Group, being one of the world’s largest energy providers and a valuable customer of MUFG, our financial group. We are committed to being a long-term partner to contribute to the growth of our customer’s business.”
About Glow Energy
Glow Energy is a member of the Glow Group who is a major energy player in Thailand. Glow Group combined installed capacity is 3,084 MW (Glow’s stake is 2,268 MW) of electricity and 1,116 tons per hour of steam.
Glow Group generates and supplies electricity to the Electricity Generating Authority of Thailand (EGAT) under Thailand's SPP (Small Power Producer) and IPP (Independent Power Producer) programs, as well as electricity, steam, industrial water and services to large industrial customers principally located in the Map Ta Phut area and nearby.
Global Power Synergy Public Company Limited (GPSC), the power flagship of PTT group, has been a major shareholder of Glow Energy since 14 March 2019.
For more information about the Glow Group please visit www.glow.co.th. For more information about GPSC please visit the company’s website at www.gpscgroup.com.
For further details, please contact:
Prapon Chinudomsub
Glow Energy Plc.
Tel. 02-670-1500-1
Email: prapon.c@glow.co.th
