Gulf Development Public Company Limited, or GULF, has announced the final coupon rates for six tranches of bonds and digital bonds with maturities of 3 to 10 years, offering 1.83% to 3.00% per year, with a combined face value of not more than 20 billion baht. Subscription opens from 19 to 21 October 2026 through eight leading financial institutions and the Paotang application. All six tranches carry a credit rating of AA- with a Stable outlook from TRIS Rating, as of 24 August 2026. The tranches offered to the general public comprise a 4-year bond at 2.10% per year, a 5-year bond at 2.33% per year, a 7-year digital bond at 2.80% per year, and a 10-year bond at 3.00% per year. The 3-year tranche is a zero-coupon bond with a discount rate of 1.83% per year, and there is also a 7-year bond at 2.80% per year. Yupapin Wangwiwat, Chief Financial Officer of GULF, said the company succeeded in bookbuilding with demand reaching 3.3 times the value of the bonds allocated to institutional investors and/or high-net-worth investors. The proceeds will be used to repay bonds due for redemption and to support investment expansion in renewable energy and digital infrastructure businesses such as data centers, cloud, and AI. For its second-quarter 2026 results, GULF posted a record operating profit of 12.332 billion baht, up 74% from the same period a year earlier, with total revenue of 50.294 billion baht, up 24% from the same period a year earlier.
Gulf Energy Development Public Company LimitedGULF raised 20 billion baht via six bond tranches with strong 3.3x institutional demand, funding renewable energy and digital infrastructure expansion.
