Summary · why it matters
Thai AirAsia Company Limited, or TAA, has filed a draft registration statement with the Securities and Exchange Commission, or SEC, to prepare the issuance and offering of high-yield, unsubordinated, guaranteed bonds. The issuer has the right to redeem the bonds before maturity and will pay interest every 3 months. The offering is made to institutional investors and/or high-net-worth investors. The bonds are divided into 2 tranches. Tranche 1 has a term of 2 years and 6 months, maturing in 2029, with an interest rate of 5.50-5.70% per annum. Tranche 2 has a term of 3 years and 6 months, maturing in 2030, with an interest rate of 6.00-6.15% per annum. Asia Aviation Public Company Limited, or AAV, which is the company's major shareholder with a 100% stake, has agreed to act as guarantor for the payment of principal, interest, and any other monetary obligations of the company under the bonds, the bondholders' rights terms, and the guarantee agreement. Subscription will be open from 30 October 2026 and 2-3 November 2026. Bluebell Securities, Asia Plus Securities, Krungthai XSpring Securities, Dao Securities (Thailand), Maybank Securities (Thailand), Bualuang Securities, Pi Securities, CGS International Securities (Thailand), UOB Kay Hian Securities (Thailand), Finansia Syrus Securities, and Apollo Wealth are the underwriters of the bonds, with Bluebell Securities acting as the bondholders' representative. The credit rating stands at BBB- by TRIS Rating Company Limited as of 30 March 2026. The company intends to use the proceeds from this bond offering to repay debt from the TAA26NA bonds, which will mature on 10 November 2026, and to fund expenses in its airline business operations, which is currently the company's core business.
Finansia X Public Company Limited
XSpring Capital Public Company Limited
Asia Aviation Public Company Limited
Asia Plus Group Holdings PCL