SET-listed energy conglomerate Bangchak Corporation (BCP) reported 3 billion baht worth of its debentures were issued on Tuesday to support working capital and new investments.
Investors quickly booked all the digital bonds through the Pao Tang application in 3 minutes and 18 seconds, after booking started at 8.30am.
The debentures are unsecured senior bonds with annual interest of 3.6%.
"We plan to use the money as working capital to deal with changes in the economy as well as oil price fluctuations," said Phatpuree Chinkulkitnivat, BCP's acting senior executive vice-president for finance and accounting.
The company said part of the money will be allocated for BCP's plan to help Thailand maintain a balance between energy security and its transition towards clean energy.
Chaiwat Kovavisarach, chief executive of BCP, earlier announced that the firm aims to achieve carbon neutrality and net-zero goals by 2030 and 2050, respectively. This is faster than the time frame set by the Thai government, which targets carbon neutrality in 2050 and net-zero by 2065.
Carbon neutrality refers to the balance between carbon dioxide emissions and absorption, while the net-zero target is a campaign to strike a balance between greenhouse gas emissions and absorption.
BCPG Plc, a renewable energy arm of BCP, previously announced the company was ready to submit proposals to develop and operate new wind and solar farms with a capacity of 100 megawatts, under a renewable energy scheme overseen by the Energy Regulatory Commission.
State-owned Krungthai Bank, which developed the Pao Tang app, said the rapid booking reflected investors' trust in the growth of BCP's energy businesses.
