Ms Yupapin said international lenders' huge interest in Gulf's loan package reflects their confidence in the company's financial strength and long-term growth strategy. Gulf Development Plc
Gulf Development Plc, Thailand's largest energy company by market value and a major telecom operator, has secured a US$600-million loan from international banks, enhancing its global funding options.The company reported the syndicated term loan attracted more international lenders than expected.
Launched in May at $400 million with three- and five-year loan options, the deal drew strong backing from Gulf's partner banks and attracted interest from a broad group of lenders, including several institutions establishing lending relationships with Gulf for the first time.
At closing, the deal united 33 banks and drew demand roughly four times higher than the original size, allowing Gulf to add $200 million for a total of $600 million.
The term loan facility attracted participation from a diverse group of financial institutions from Japan, Taiwan, Singapore, China, Hong Kong, the Philippines, India, Macau and France, supported by Gulf's longstanding relationships with Japanese and Chinese partners, suppliers, and engineering, procurement and contraction contractors across its projects.
