Chandler MHM Advises AIS on Its 'Sustainability Bonds' Which Is a First for Telecommunications Companies in Thailand
Chandler MHM advised Advanced Info Service Public Company Limited (AIS), a leading telecommunications and digital infrastructure service provider, on the establishment of its Medium-Term Note (MTN) Program and first 'Sustainability Bond' under the Program. The bonds were issued in five series with tenors of 4 years, 7 years, 3 years, 5 years, and 10 years, respectively. Series 1-2 were offered to the public, while Series 3-5 were private placements to institutional investors and high-net-worth individuals. Well-received by the market, the bonds were oversubscribed, raising a total of THB 25 billion. Bangkok Bank, KASIKORNBANK, Krung Thai Bank, Siam Commercial Bank, Bank of Ayudhya, United Overseas Bank (Thai), and Kiatnakin Phatra Securities acted as arrangers.
This is a groundbreaking transaction for AIS as it is its first 'Sustainability Bond' and also a first for telecommunications companies in Thailand. The bond proceeds will be used for the refinancing of AIS’s ESG (environmental, social, and governance) projects relating to sustainability, including projects promoting efficient energy usage. This will be achieved by expanding its 5G network to improve network access for populations in remote areas.
The team from Chandler MHM was led by Doungporn Prasertsomsuk, supported by Poonpha Moosirilert, Pradchayada Maneeratanapron, Onpreeya Kitcharoen, and Praewa Silapunt.
Doungporn Prasertsomsuk, Partner, commented, "We are honored to have had the opportunity to advise on this successful issuance of sustainability bonds, which is a first for telecommunications companies in Thailand. This will make a long-term difference for those living in remote areas without 5G access and can be a role model for other issuers considering 'Sustainability Bonds.”
Doungporn Prasertsomsuk is recognized as a leader in the Thai market for debt capital markets and is ranked top-tier by independent global legal publications.