Following the announcement by PTT Global Chemical Public Company Limited (SET: PTTGC) via the Stock Exchange of Thailand (SET) regarding the result of the tender offer for repurchasing debentures, Bualuang Securities (BLS) noted that the tender has deducted a total amount of US$142 million.
The transaction is expected to generate a one-off gain of approximately THB 600–700 million for PTTGC in the third quarter of 2025, with around US$15 million (about THB 476 million) in interest expenses saved annually.
This move will provide an upside of roughly 9% to PTTGC’s 2025 earnings estimates by the analyst and deliver about a 3% upside to long-term profit projections.
As of September 10, 2025, PTTGC has US$274 million in U.S. dollar debentures maturing in 2051 and another US$61 million maturing in 2052 outstanding.
BLS views the development as a positive sentiment driver for PTTGC’s share price and maintains a ‘Buy’ recommendation with a target price of THB 28 per share.
