Thai Union Group Public Company Limited announced that the Board of Directors Meeting No. 5/2024 dated 7 August 2024 resolved to approve the entering into revolving and term loan agreements in a total amount of up to THB 11,000 million with i-Tail Corporation Public Company Limited for the purposes of business operation and/or debt refinancing requirements. The loan agreements will be completed after ITC obtains approval from its shareholders.
In addition, this loan constitutes a significant financial commitment and has implications for the financial status and operating results of the Company, as per Section 4 (14) of the Regulations of the Stock Exchange of Thailand Re: Rules, Conditions and Procedures Governing the Disclosure of Information and Other Acts of a Listed Company B.E. 2560 (as amended). Therefore, the Company is obligated to disclose information as specified by the aforementioned regulations, as follows: Lender: ITC which is not a related person of the Company according to the Notification of Capital Market Supervisory Board No.TorChor 21/2551 Re: Rules on Connected Transactions and the Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Connected Transactions, B.E. 2546 (as amended). Type of loan: Long-term loan for an amount not exceeding THB 6,000 million and Revolving loan for an amount not exceeding THB 5,000 million.
Purpose of the loan: To be used for business operation and/or debt refinancing requirements. Loan amount: In a total amount of up to THB 11,000 million, approximately 6.81% of the Company's total assets (as of 30 June 2024). Interest rate: Long-term loan interest rate 3.10% per annum.
Revolving loan interest rate equal to the policy interest rate announced by the Monetary Policy Committee (MPC) plus 0.10% per annum. Estimated total interest over the term of the loan is THB 1,896 million. Loan term: Long-term loan for a period of 3 years which may be renewed for a period of not more than 3 years per each renewal with the total period not exceed 6 years.
Revolving loan for a period of not more than 1 year which may be renewed for a period of not more than 1 year per each renewal with the total period not exceeding 6 years. Repayment: Repayment of principal plus interest upon maturity but the loan may be prepaid under the condition set out in the agreement.
