Expected Retail Subscription Period: July 30 – 31 and August 3, 2026
True Corporation Plc, Thailand’s leading telecommunications and technology company is preparing to offer a new series of debentures to retail investors. The offering will consist of four tranches with maturities ranging from 3 to 10 years and fixed interest rates of [2.15 – 3.45]% per annum, payable every six months. The debentures are designed for investors seeking short-,medium-, and long-term investment opportunities with a leading company that has strong business fundamentals and plays a critical role in developing Thailand’s digital infrastructure. On June 17, 2026, TRIS Rating assigned both True’s corporate credit rating and the new debentures an “A+” rating, while maintaining a “Positive” outlook. This reflects confidence in the company’s market leadership, ability to generate consistent cash flow, and long-term growth potential. In addition, True was ranked among the Top 1% of the world’s most sustainable companies for the 8th consecutive year in the S&P Global Sustainability Yearbook 2026, underscoring its commitment to financial strength, corporate responsibility, and sustainable growth. The subscription period is expected to be from July 30 – 31 and August 3, 2026 through seven leading financial institutions namely; Bangkok Bank, KASIKORNBANK, Siam Commercial Bank, CIMB Thai Bank, UOB (Thai), Kiatnakin Phatra Securities and Asia Plus Securities. Investors may also subscribe digitally via the TrueMoney Wallet application, with Bank of Ayudhya (Krungsri) acting as the debenture registrar and debenture holders’ representative.
Mr. Nakul Sehgal, Chief Financial Officer, True Corporation PCL said that “True’s first-quarter 2026 results continued to demonstrate strong growth momentum. The company reported a net profit of 6.6 billion baht, marking its 5th consecutive profitable quarter. EBITDA reached 28 billion baht, up 10.9% year-on-year, supported by growth in both mobile and broadband subscriber bases, alongside disciplined cost and expense management. As a result, our operational efficiency, profitability, and financial position have continued to strengthen.”
The company also continues to invest in digital infrastructure to enhance network coverage, reliability, and capacity to accommodate future growth in data usage. At the same time, it is leveraging digital technologies and AI to improve operational efficiency, optimize network management, and enhance customer experience. These efforts, combined with strong business performance and strict financial discipline, demonstrate the company’s ability to generate sustainable cash flow and reinforce its solid financial foundation for long-term growth.
The Company’s credit rating and the debentures being offered in this issuance were assigned an “A+” rating with a “Positive” outlook by TRIS Rating Co., Ltd. on June 17, 2026. The rating reflects True’s strong market leadership position in the telecommunications industry, supported by its nationwide network coverage, diverse spectrum portfolio, and trusted brand. It also takes into account the positive benefits arising from the amalgamation, which have enhanced operational efficiency and strengthened the Company’s long-term growth potential.
The public offering includes four tranches of name-registered, unsubordinated, unsecured debentures with debentureholders’ representatives. Fixed interest will be paid every 6 months. These debentures are suitable for short – to long-term investors, with a minimum subscription of 100,000 baht and in multiples of 100,000 baht. The expected subscription dates for general investors are July 30 – 31 and August 3, 2026. The debentures include:
- 1st tranche: 3-year tenor with fixed coupon rate of [2.15 – 2.40]% per annum
- 2nd tranche: 5-year tenor with fixed coupon rate of [2.50 – 2.75]% per annum
- 3rd tranche: 7-year tenor fixed coupon rate of [3.00 – 3.25]% per annum
- 4th tranche: 10-year tenor with fixed coupon rate of [3.20 – 3.45]% per annum and the issuer has the right to redeem the debentures prior to maturity, starting from the 5th year.
The final interest rates will be announced later. The company is currently in the process of filing a registration statement and draft prospectus, which are not yet effective and are pending approval by the Securities and Exchange Commission (SEC). Investors can find more details about the debenture offering and draft prospectus at www.sec.or.th. For additional information, please contact the seven joint lead arrangers listed below:
- Bangkok Bank Public Company Limited, all branches (excluding Micro Branch), or call 1333, or book online via Bangkok Bank Mobile Banking.
- KASIKORNBANK Public Company Limited, all branches, call 02 888 8888 ext. 869 (Retail investors can subscribe via online channel (https://www.kasikornbank.com/kmyinvest), non-residents can subscribe at head office and branches), including KASIKORN Securities Public Company Limited as the sales unit of KASIKORNBANK Public Company Limited.
- Siam Commercial Bank Public Company Limited., all branches, call 02 777 6784, or book online via SCB EASY app, including InnovestX Securities Co., Ltd. as an agent of Siam Commercial Bank Public Company Limited.
- CIMB Thai Bank Public Company Limited., all branches, call 02 626 7777, or book online via CIMB Thai app.
- United Overseas Bank (Thai) Public Company Limited, all branches, call 02 285 1555.
- Asia Plus Securities Co., Ltd., call 02 680 4004.
- Kiatnakin Phatra Securities Public Company Limited., call 02 165 5555, or book online via Dime! app, including Kiatnakin Phatra Bank Public Company Limited as an agent of Kiatnakin Phatra Securities Public Company Limited.
For those interested in subscribing via the TrueMoney Wallet, more information and instructions can be found at www.truemoney.com. For assistance with the application process, contact the staff of True Money Co., Ltd. at Tel. 1240, press 6.
Investment Risk Warning: Investing involves risks. Investors should carefully study and understand the product features, return conditions, and associated risks before making any investment decisions. The offering documents are available at www.sec.or.th
Disclaimer: The offering is still under regulatory review by the SEC and is not yet effective. Allocation of the debentures is at the discretion of the underwriters and the final terms will follow those outlined in the approved registration statement and prospectus.
Symbol: TRUE