“HMC Polymers” the first and the largest PP producer in Thailand and leading PP producer in ASEAN Preparing to issue debentures for Institutional Investors and High-Net-Worth Individuals in October 2023 with the interest rate range for 5 to 10-year tranches
4 September 2023: HMC Polymers Company Limited or “HMC Polymers”, the first and the largest producer of Polypropylene (PP) resins in Thailand and a leading manufacturer in ASEAN. The Company has been in business for over 40 years and is an affiliate of PTT Global Chemical Public Company Limited (GC). It is preparing to offer debentures to Institutional Investors and High-Net-Worth Individuals in October 2023 through 4 leading financial institutions comprising Bangkok Bank, Krungthai Bank, Kasikorn Bank, and Siam Commercial Bank.
HMC Polymers revealed that the document submission to the Securities and Exchange Commission of Thailand (SEC) for the issuance and offer of name-registered, unsubordinated and unsecured debentures with a debenture holders’ representative was completed. There are 4 available tranches comprising Tranche 1: a 3-year tenor of which the interest rate will be notified, Tranche 2: a 5-year tenor with the interest rate range of 4.10%-4.40% per annum, Tranche 3: a 7-year tenor with the interest rate range of 4.45%-4.75% per annum and Tranche 4: a 10-year tenor with the interest rate range of 4.79%-5.09% per annum. Investors will be notified again on the final interest rates. The subscription period is 5-6 and 9 October 2023 and the issue date is 10 October 2023. Such debentures were assigned an ‘A-(tha)’ rating by Fitch Ratings (Thailand) Company Limited on 24 August 2023 reflecting the Company identity as the leader and the largest PP producer in Thailand and as being the market leading innovator enabling HMC Polymers to escalate growth through specialty and differentiated products with higher values.
Mr. Corso Uzielli, President of the company addressed that, “For the past 40 years, HMC Polymers has continuously committed to creating innovations and developing excellence in both production bases and business activities in every dimension. We are ready to leverage the most advanced technology from LyondellBasell, a world-class PP production expert and a major shareholder. When combining the support in various aspects from GC, another major shareholder, it is synergized to the production of special grade (Specialty Product, SP) and premium-quality grades (Differentiated Product, DP) PP resins enabling the Company products different from other manufacturers in the market and suitable for a wider range of end applications. Our standpoint of having an outstanding customer orientation has been fulfilled through responding to customer needs which are rapidly changing in multiple segments including healthcare and hygiene, rigid and flexible packaging and industrial products.”
Ms. Angkanee Soonthornsawad, Vice President of Finance, Accounting, and Corporate Support added that, “the unfavorable financial performance of the year 2022 was pressured by high energy costs. However, petrochemical product prices are expected to have an improved direction following the direction of the world economy that is gradually recovering. Revenues from sales for the first 6 months of 2023 was 12,825 million Baht. In overall, the financial position of the Company remained solid with considerable equity and adequate liquidity. Not only having an advanced technology in manufacturing but also product innovations, both HMC Polymers and its debentures were assigned an ‘A-(tha)’ rating. Hence, this issuance and offer of debentures will be an opportunity for investors seeking yield enhancement in a stable business with "ENDLESS POSSIBILITIES OF INVESTMENT CHOICE" along with reinforcing business operations of HMC Polymers under the concept of "INNOVATE ENDLESS POSSIBILITIES" aiming to drive business stability coupled with sustainable growth.”.
“HMC Polymers currently has a PP resin production capacity of more than 1,000,000 tons per annum and is the leading PP manufacturer with the state-of-the-art production technology in ASEAN under ISO 9001 and ISO 14001 certifications. Our PP resins can be used to manufacture a variety of products and found in every business segments such as rigid packaging, flexible packaging, consumer products, automotive industry, healthcare and hygiene products along with pipe and textile products, etc.”
Currently, the registration statement and draft prospectus are in the process of being filed, which are not yet effective. For investors interested in HMC Polymers debentures, more details can be found at www.sec.or.th or contact arrangers as follows:
Bangkok Bank Public Company Limited (except micro branches) call 1333 or subscribe through the Bualuang mBanking application for High-Net-Worth Individuals.
Krungthai Bank Public Company Limited, call 02-111-1111 or subscribe through the Krungthai NEXT application or through Money Connect by Krungthai (https://moneyconnect.krungthai.com/) for High-Net-Worth Individuals.
Kasikorn Bank Public Company Limited* Tel. 02-888-8888 dial 819
The Siam Commercial Bank Public Company Limited** Tel. 02-777-6784
* Including Kasikorn Securities Public Company Limited as the selling unit of Kasikorn Bank Public Company Limited.
** Including Innovative X Securities Company Limited as the selling unit of The Siam Commercial Bank Public Company Limited.