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, at 1.83% to 3.00% per year, with a total face value of not more than 20 billion baht. Subscription will open from 19 to 21 October 2026 through eight leading financial institutions and the Paotang application. All six tranches received a credit rating of AA- with a Stable outlook from TRIS Rating on 24 August 2026. As for the coupon rate of each tranche: tranche 1, a 3-year bond, is a zero coupon bond with a discount rate of 1.83% per year; tranche 2, a 4-year bond, carries a fixed coupon of 2.10% per year; tranche 3, a 5-year bond, carries a fixed coupon of 2.33% per year; tranche 4, a 7-year digital bond, carries a fixed coupon of 2.80% per year; tranche 5, a 7-year bond, carries a fixed coupon of 2.80% per year; and tranche 6, a 10-year bond, carries a fixed coupon of 3.00% per year. Interest is paid every six months throughout the life of the bonds, except for the 3-year bond. Miss Yupapin Wangwiwat, Chief Financial Officer of GULF, said the company had once again succeeded in bookbuilding, with demand reaching as high as 3.3 times the value of the bonds allocated to institutional investors and/or high-net-worth investors, and that the proceeds from this fundraising will be used to repay bonds due for redemption as well as to support expansion of investment in renewable energy and digital infrastructure businesses such as data centers, cloud and AI. In the second quarter of 2026, GULF posted a record core 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 set coupons on up to 20 billion baht of bonds/digital bonds, with bookbuilding demand 3.3x, to refinance debt and fund renewable energy and digital infrastructure expansion.
