Advanced Info Service Public Company Limited (SET: ADVANC or AIS) has successfully issued US$1,000 million (approximately THB 31,000 million) in unsecured and unsubordinated notes to international investors. The issuance, completed on 4 March 2026, is listed on the Singapore Exchange Securities Trading Limited (SGX-ST). This strategic move is designed to diversify the company’s funding sources and broaden its global investor base.
The offering consists of two distinct tranches:
- Tranche 1: US$600 million in 5-year notes maturing on 4 March 2031, carrying a fixed interest rate of 4.260% per annum.
- Tranche 2: US$400 million in 10-year notes maturing on 4 March 2036, carrying a fixed interest rate of 4.894% per annum.
AIS intends to use the proceeds for general corporate purposes, including debt repayment and on-lending to entities within the group. To mitigate risks from foreign exchange and interest rate volatility, AIS will enter into cross-currency swap agreements to convert all principal and interest obligations into Thai Baht. This strategy is intended to maintain the company’s average cost of financing at approximately 2.7–2.8%, consistent with domestic funding levels.
The notes received an investment-grade rating of BBB+ from Standard & Poor’s (S&P), reflecting the company’s solid financial position and repayment capability. Following the issuance, AIS expects its net debt to EBITDA ratio to remain below 2.5 times, preserving the financial flexibility required for its THB 30,000 to 35,000 million capital expenditure plan for 2026.
Looking ahead, AIS is prioritizing investments in new-growth areas such as data centers, cloud computing, and digital services. These initiatives are expected to serve as the foundation for the company’s long-term growth and ensure alignment with its overall business direction.
