Bangkok Mass Transit System Public Company Limited (“The Company” or “BTSC”), a core subsidiary of BTS Group and main operator of all BTS Group’s rail mass transit, provides operating and maintenance (O&M) services for all rail systems operated by BTS Group, successfully issued THB 10.2 billion senior unsecured Green Bonds with bondholders’ representative placing to institutional and high-net-worth investors during 3 – 5 November 2021, with over 2 times oversubscription. The bonds were rated “A” by TRIS Rating. The bond proceeds will be used for the Northern-Southern Green Line extensions, which are the green projects that brings better air quality to the people of Bangkok Metropolitan Region. The issuance of this Green Bonds reinforced BTS Group’s commitment to promote environmentally friendly and sustainable business conduct.

Mr. Surayut Thavikulwat, Chief Financial Officer, BTS Group Holdings Public Company Limited (“BTSG”) said that Bangkok Mass Transit System Public Company Limited, the core subsidiary of BTS Group, has offered 4 series of senior unsecured Green Bonds with bondholders’ representative with the tenors of 3, 5, 7 and 10 years amounting to THB 10.2 billion placed to institutional and high-net-worth investors during 3 – 5 November 2021. The deal successfully received over 2 times of the Company’s target issue size. The Bonds were rated ‘A’ by TRIS Rating Co., Ltd. on 29 September 2021. The Green Bond’s proceeds will be used for an investment in E&M and rolling stocks of the Green Line Extensions, which are the green projects. The Green Line Extensions project is the anchored project elevating Bangkok’s electric mass transit network with the use of clean and renewable energy, lessening the use of fossil-fueled vehicles and resulting in the reduction of carbon emission and fine dust particles (PM2.5). Thus brings about improving air quality in Bangkok Metropolitan Region. Moreover, the BTSC Green Bond issuance reflects BTS Group’s commitment in operating business with sustainable solution together with promoting environmental conservation. The issuance of the BTSC Green Bonds also emphasizes BTS Group’s commitment to promote green financing through the continued issuance of Green Bonds.

This Green Bond transaction is the first Green Bond of BTSC which is issued under the BTS Group’s Green Bond Framework. The Green Bonds are also complied with the International Green Bond Standards including the Green Bond Principles 2021 (GBP) issued by the International Capital Market Association (ICMA) as well as the ASEAN Green Bond Standards 2018 (AGBS) issued by the ASEAN Capital Markets Forum (ACMF). Sustainalytics, a leading independent research facility of ESG and corporate governance, has verified and issued the second party opinion (SPO) which concluded that the BTSC Green Bond is in compliance with both the ICMA’s GBP and AGBS. Climate Bonds Initiative (CBI) has also certified that the BTSC Green Bond complies with the Climate Bonds Standard version 3.0, Low Carbon Transport criteria.

“BTS Group would like to express our gratitude towards all investors for their trusts and interests in subscribing for BTSC Green Bond and like to thank Bangkok Bank Public Company Limited, Siam Commercial Bank Public Company Limited, and Krungthai Bank Public Company Limited as the Lead Arrangers for their support and contribution to this achievement. Despite being the first Green Bond issuance by BTSC, the success of the transaction mirrors the achievement of the previous BTSG Green Bonds issued in 2019 and 2020 respectively. This represents investors’ confidence and continued support to BTS Group’s commitment in promoting green investments to drive our sustainable business growth objective” Said Mr. Surayut.