GULF to Offer Four Tranches of Debentures Worth 15 Billion Baht

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Gulf Development Public Company Limited (GULF) plans to offer four tranches of debentures and digital debentures, with tenors of 4-10 years, to the general public between October 19-21, 2026. The debentures have been rated "AA-" with a "Stable" outlook by Tris Rating, reflecting the strength of its energy and infrastructure businesses, as well as stable dividend income from its stake in Advanced Info Service (ADVANC). Tranches 1, 2, and 4 will be offered through eight leading financial institutions at a price of 1,000 baht per unit, with a minimum subscription of 100,000 baht. Tranche 3 (digital debentures) will be offered through Krungthai Bank's "Paotang" application, with a minimum subscription of 1,000 baht and a maximum of 50 million baht per transaction. The company plans to use the proceeds to repay maturing debentures and to support investments in renewable energy and digital infrastructure, such as data centers, cloud, and AI. For the second quarter of 2026, the company reported a record core profit of 12.332 billion baht, up 74% from the same period last year, and total revenue of 50.294 billion baht, up 24%.

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