Dtac unveiled plans to issue bonds in July to raise capital to pay down its debt and invest in infrastructure, as the Thailand operator awaits approval from authorities for a proposed merger with True Corp.
In a statement, CEO Sharad Mehrotra noted a subsidiary filed documents with the Securities Exchange Commission of Thailand seeking permission to offer the bonds, adding the maturity date, rate of return and subscription details will be announced later.
The company didn’t disclose the amount it expects to raise in the bond offering.
Dtac said it is preparing to offer senior unsecured bonds to institutional investors and high-net-worth investors.
The tie-up with True Corp, which would create the largest operator in the country by subscribers, faces rising opposition over competition concerns, as it would leave the market with just two major players.
The merger is opposed by Napat Winitchaikul, a member of National Broadcasting and Telecommunications Commission’s supervisory committee and the Thailand Consumer Council.Subscribe to our daily newsletter Back