Thaioil Celebrates Success in Restructuring Thaioil and Subsidiaries’ Inter – Company Loan.

       Recently, Thai Oil Public Company Limited, led by Mr.Bandhit Thamprajamchit, Senior Executive Vice President – Refinery and Petrochemical (3^rd right) and Ms. Pattaralada Sa-Ngasang, Executive Vice President – Finance and Accounting (3^rd left), have organized a ceremony held to celebrate the successful refinancing of a 8,500-million baht inter-company loan by TOP SPP Company Limited (TOP SPP), Thaioil ’s wholly owned subsidiary, and to thank all four financial institutions for their support. Senior executives from the financial institutions together with Thaioil and Subsidiaries also joined the event, which was held at CHAR Restaurant & Rooftop Bar at Hotel Indigo Bangkok.

       The syndicated loan with collateral deal for TOP SPP was implemented with the purpose of restructuring TOP SPP’s loan in order for the company to become more in line with the electric power business structure. The deal also allowed for more efficient loan and borrowing cost acquisition after the completion of TOP SPP’s power plant, which helped lessen the project’s overall risk especially in terms of construction. The loan negotiation including the contract drafting process was completed in only four months (June – September 2017). The refinancing has also contributed to Thaioil and Subsidiaries’ capital readiness for its future projects.

        The syndicated loan with collateral deal for TOP SPP was a two-part loan deal, comprising of a 19-year 8,500- million baht project finance loan and a 1,400- million baht revolving working capital loan. On 29 September 2017, TOP SPP signed a facility agreement with four financial institutions, namely Bank of Ayudhya PCL (BAY), Kasikornbank PCL (KBANK), Sumitomo Mitsui Banking Corporation (SMBC), and Kiatnakin Bank PCL (KKP).

        Photo shows (from left) : Mr. Suratun Kongton, Head of Corporate and Investment Banking Group, BAY; Mr. Suwat Techawatanawana, Executive Vice President,  KBANK ; Ms. Pattaralada Sa-Ngasang, Executive Vice President – Finance and Accounting, Thaioil;  Mr. Bandhit Thamprajamchit, Senior Executive Vice President – Refinery and Petrochemical, Thaioil;  Mr. Hiroyoshi Korosue, General Manager, Bangkok Branch, SMBC; Mr. Norachet Sangruji,  Head of Corporate Banking Group, KKP

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Thaioil is Thailand’s largest refinery and supplier of petroleum products. Founded in 1961, we operate one of the most efficient refineries in Asia Pacific with the current capacity of 275,000 barrels per day.

Thaioil operates under the Operational Excellence principle, operating as an integrated group of businesses in oil refinery, petrochemicals and lube base oil with supporting businesses, e.g. power generation, solvents, logistics and renewable energy generation, LAB : an intermediate in the production of surfactants, marine and pipeline transportation and storage services of crude, petroleum and petrochemical products, as well as recruitment services for Thaioil and Subsidiries. Thaioil leads the Thai refinery industry through a well-planned and integrated production process, yielding optimum efficiency. Our products are of high quality, rated in the top quartile of refineries in Asia Pacific, at lower production costs – giving Thaioil a recognized competitive advantage.

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