Weerawong, Chinnavat & Partners Ltd. represented PTT Exploration and Production Public Company Limited (PTTEP) in the liability management transaction comprised of (i) tender for purchase of USD 500 million Subordinate Perpetual Securities issued by PTTEP Treasury Center Company Limited to foreign investors (the “Perpetual Securities”), (ii) the establishment of the USD 3 billion Global Medium Term Notes Program (the “Program”), and (iii)  the issuance of the long term senior notes in an aggregate principal amount of USD 650 million with the fixed interest rate of 3.903% per annum and the maturity date of 6 December 2059 under the Program.

In this regard, 93.83% of the Perpetual Securities, being equal to approximately USD 469.15 million, have been tendered and accepted to be purchased, where PTTEP Treasury Center Company Limited plans to exercise the right to redeem all of the remaining Perpetual Securities. The settlement date for the transaction was 6 December 2019.

The Weerawong C&P team led by Veeranuch Thammavaranucupt, Senior Partner and Patcharaporn Pootranon, Partner included James Lawden, Senior Counsel and associates Veerakorn Samranweth, Ploypapas Ratanarangsimant, Arisa Taweepanyayot and Irene Ittisarnronachai.