Thai Bond Update

Issue 51/2019 Dec 20, 2019

1. Weekly Trading value (Dec 16 - 20, 2019)

This Week Previous Week MARKET AT A GLANCE Change (5 days) (4 days) Total Trading Value (THB mln.) 5,429,977.37 4,611,822.76 17.74% Outright 365,730.13 336,605.46 8.65% Financing 5,061,420.38 4,273,223.48 18.45% Others 2,826.86 1,993.82 41.78% Daily Average 1,085,995.47 1,152,955.69 -5.81% Government Bond Index (Clean Price) 116.90 116.80 0.10 Corporate Bond Index (Clean Price) 104.90 104.90 0.00

Trading Value Index Date Outright Fin&Other Total GPrice CPrice 16-Dec-19 39,864.43 954,027.10 993,891.53 118.07 116.77

17-Dec-19 117,476.66 796,106.86 913,583.52 117.22 116.70

18-Dec-19 52,874.40 1,328,669.46 1,381,543.87 117.47 116.94

19-Dec-19 59,821.76 991,559.69 1,051,381.44 117.28 116.74

20-Dec-19 95,692.88 993,884.14 1,089,577.02 117.35 116.90

Total 365,730.13 5,064,247.24 5,429,977.37

2. Weekly Movement

2.1 ThaiBMA Government Bond Yield Curve (Dec 13 & Dec 20, 2019) 2.2 ThaiBMA Interpolation Yield (%)

Term This Week Last Week Chg.(bp) 1 YR. 1.23 1.24 -1 2 YR. 1.21 1.25 -4 3 YR. 1.26 1.31 -5 5 YR. 1.33 1.37 -4 7 YR. 1.41 1.44 -3 10 YR. 1.58 1.60 -2 12 YR. 1.72 1.75 -3 15 YR. 1.78 1.80 -2 18 YR. 1.88 1.92 -4 19 YR. 1.90 1.94 -4 20 YR. 1.91 1.95 -4 21 YR. 1.93 1.96 -3 25 YR. 2.00 2.00 0 27 YR. 2.01 2.01 0 28 YR. 2.02 2.01 1 29 YR. 2.03 2.01 2 Remark: 30 YR. 2.04 2.02 2 1) The above reference yields are based upon average bids quoted by 35 YR. 2.12 2.11 1 BoT's 9 primary dealers with minimun value to THB 20 million 40 YR. 2.20 2.20 0 2) 1,3,6 M interpolation yields are based upon bond equivalent yields 45 YR. 2.25 2.24 1

Note: 1. ThaiBMA trading statistics carried in this publication is based on trading data reported to ThaiBMA by all dealers. 2. Data excludes FX Bond. 3. The yield on Inflation-linked bond is a real yield to maturity. Thai Bond Update, Issue 51/2019, December 20, 2019

2.3 ThaiBMA Government Bond Bid-Offer Spreads 2.4 Top Most Active Bonds

Symbol TTM This Week Last Week Chg. (bp) TTM Last Spread Total Trading Symbol Type Duration LB21DA 1.99 2.61 1.65 0.96 (yrs.) Executed (bp) Value (THB mln.) LB226A 2.49 2.00 2.17 -0.17 Government Bonds LB22DA 2.99 1.75 2.29 -0.54 LB22DA 2.99 2.90 1.26 0 10,705.58 LB23DA 3.99 2.24 1.43 0.80 LB28DA 9.00 7.99 1.54 0 7,572.68 LB24DB 5.00 1.77 1.58 0.20 LB25DA 5.98 2.44 2.77 -0.33 LB21DA 1.99 1.93 1.19 0 5,700.61 LB26DA 7.00 2.28 2.53 -0.25 LB24DB 5.00 4.80 1.32 0 5,619.49 LB28DA 9.00 1.89 2.17 -0.28 LB29DA 10.00 2.25 2.75 -0.50 LB23DA 3.99 3.81 1.29 0 4,668.22 LB316A 11.51 3.97 5.38 -1.40 State Owned Enterprise/State Agency Bonds LB326A 12.52 2.28 2.00 0.28 CB20618A 0.50 0.49 1.16 0 29,974.34 LB356A 15.50 3.03 2.50 0.53 LB366A 16.50 3.59 4.53 -0.94 CB20107A 0.04 0.04 1.12 0 29,680.76 LB386A 18.50 2.59 3.52 -0.93 CB20319B 0.25 0.25 1.14 0 25,852.06 LB446A 24.54 9.89 10.01 -0.12 LB466A 26.51 10.01 10.15 -0.14 CB19D30A 0.03 0.03 1.14 0 25,651.37 LB496A 29.51 9.82 9.03 0.79 CB20604B 0.46 0.46 1.15 0 9,726.03 LB616A 41.52 9.79 9.23 0.56 Corporate Bonds LB666A 46.52 9.96 9.45 0.51 LB676A 47.52 8.97 8.39 0.58 BAY21NA /AAA(tha) 1.93 1.88 1.58 36 2,107.86 LBA37DA 17.99 9.96 9.85 0.11 KCC209B /AAA 0.77 0.76 1.38 16 1,583.38

BJC259A /A+ 5.72 5.22 2.41 104 772.88

THANI20DC /A- 0.99 0.97 2.10 86 548.00

PTTGC269A /AA+(tha) 6.73 6.14 2.07 64 492.86 Commercial Paper Bonds MBKET20319A 0.25 0.25 1.70 51 2,987.48

KK20910A 0.73 0.72 1.40 17 1,069.04

KK20514A 0.40 0.40 1.38 17 994.45

EB20117B 0.08 0.08 1.44 24 699.17

TBANK20312A 0.23 0.23 1.33 14 538.45

* Floating Rate Bond 2.5 ThaiBMA Government Bond Indices

Clean Price Index Gross Price Index Total Return Index Group 20-Dec-19 13-Dec-19 Chg. 20-Dec-19 13-Dec-19 Chg. 20-Dec-19 13-Dec-19 Chg.

Government Bond Index 116.90 116.80 0.10 117.35 118.18 -0.83 320.28 319.79 0.49 Maturity Sub Group Group 1 (1 < TTM <= 3) 74.79 74.74 0.05 74.94 75.70 -0.76 208.60 208.34 0.26 Group 2 (3 < TTM <= 7) 112.03 111.89 0.13 112.28 113.01 -0.73 297.75 297.17 0.58 Group 3 (7 < TTM <= 10) 147.67 147.58 0.09 149.06 149.60 -0.54 401.39 400.91 0.48 Group 4 (> 10) 199.95 199.78 0.17 200.62 202.13 -1.52 547.86 547.04 0.83 Group 5 (<= 10) 93.82 93.73 0.09 94.22 94.85 -0.62 253.89 253.49 0.40 Corporate Bond Index (BBB up) 104.90 104.90 0.00 105.61 105.58 0.03 244.57 244.43 0.14

2.6 Market Participant by Trading Value (THB mln.)

Participants Outright Financing Others Dealer-Dealer 66,356.07 812,894.85 493.40 Dealer-Client 299,795.19 4,251,455.53 1,994.41 AMC 176,822.07 0.00 0.00 INS 22,207.96 3,400.00 0.00 DCO 27,433.36 0.00 1,994.41 NDL 7,205.12 390,590.00 0.00 FCO 29,975.25 0.00 0.00 IND 627.50 119.53 0.00 Other 35,523.94 3,857,346.00 0.00 Thai Bond Update, Issue 51/2019, December 20, 2019

2.7 Outright Transaction Report (Rank by Alphabetical Order)

Unit : THB mln. Wavg. Total % of Total Turnover Type/ Coupon Maturity Yrs. to Avg. Bid Yld. (%) Executed Yield (%) Symbol Executed Trading Trading Ratio Rating (%) Date Maturity Low High Low High Yld. (%) Value Value (%) Government Bonds ILB217A - 1.200000 14-Jul-21 1.57 1.577694 1.579741 1.540000 1.580000 1.544344 266.34 0.07 0.29 ILB283A - 1.250000 12-Mar-28 8.23 1.612167 1.620299 1.500000 1.600000 1.555023 858.06 0.23 0.80 LB206A - 2.550000 26-Jun-20 0.52 - - 1.200000 1.250000 1.211864 1,165.53 0.32 1.19 LB213A - 5.850000 31-Mar-21 1.28 - - 1.260000 1.260000 1.260000 8.70 0.00 0.01 LB21DA - 3.650000 17-Dec-21 1.99 1.210967 1.254446 1.180000 1.250000 1.212082 5,700.61 1.56 2.20 LB226A - 1.875000 17-Jun-22 2.49 1.237337 1.276730 1.210000 1.279000 1.244173 4,233.33 1.16 2.40 LB22DA - 2.000000 17-Dec-22 2.99 1.263212 1.301435 1.252500 1.300000 1.272027 10,705.58 2.93 5.19 LB236A - 3.625000 16-Jun-23 3.49 - - 1.270000 1.322000 1.295279 2,417.56 0.66 1.22 LB23DA - 2.400000 17-Dec-23 3.99 1.298896 1.331111 1.285000 1.345000 1.312811 4,668.22 1.28 2.30 LB24DB - 1.450000 17-Dec-24 5.00 1.328958 1.360278 1.315000 1.365000 1.332931 5,619.49 1.54 6.25 LB25DA - 3.850000 12-Dec-25 5.98 1.374455 1.409444 1.352500 1.415000 1.376093 2,424.16 0.66 1.18 LB26DA - 2.125000 17-Dec-26 7.00 1.402778 1.426667 1.390000 1.430000 1.407224 2,796.09 0.76 1.23 LB27DA - 3.580000 17-Dec-27 8.00 - - 1.460000 1.530000 1.486339 980.20 0.27 1.38 LB28DA - 2.875000 17-Dec-28 9.00 1.538333 1.552500 1.515000 1.555000 1.534556 7,572.68 2.07 4.14 LB296A - 4.875000 22-Jun-29 9.51 - - 1.515000 1.550000 1.538218 383.57 0.10 0.17 LB29DA - 1.600000 17-Dec-29 10.00 1.564074 1.589194 1.545000 1.580000 1.557643 3,260.80 0.89 13.59 LB316A - 3.650000 20-Jun-31 11.51 1.694694 1.706667 1.650000 1.695000 1.673056 567.48 0.16 0.29 LB326A - 3.775000 25-Jun-32 12.52 1.741389 1.758333 1.730000 1.760000 1.739712 4,195.18 1.15 1.71 LB356A - 1.600000 17-Jun-35 15.50 1.785556 1.805556 1.770000 1.815000 1.781293 2,208.11 0.60 3.92 LB366A - 3.400000 17-Jun-36 16.50 1.868889 1.883917 1.810000 1.895000 1.854020 978.72 0.27 0.52 LB386A - 3.300000 17-Jun-38 18.50 1.886667 1.910957 1.865000 1.905000 1.886884 4,023.53 1.10 2.68 LB416A - 3.800000 14-Jun-41 21.50 - - 1.959000 2.030000 1.965269 319.63 0.09 0.33 LB446A - 4.675000 29-Jun-44 24.54 2.000000 2.001778 1.990000 1.990000 1.990000 6.72 0.00 0.00 LB466A - 2.875000 17-Jun-46 26.51 2.000524 2.007358 1.960000 2.000000 1.997216 1,376.91 0.38 0.77 LB496A - 1.875000 17-Jun-49 29.51 2.014939 2.035785 2.030000 2.040000 2.033566 135.11 0.04 1.52 LB616A - 4.850000 17-Jun-61 41.52 2.216645 2.222104 2.217500 2.220000 2.218750 1,197.93 0.33 0.72 LB666A - 4.000000 17-Jun-66 46.52 2.246728 2.264405 2.247500 2.280000 2.250937 2,184.04 0.60 1.17 LB676A - 3.600000 17-Jun-67 47.52 2.282308 2.291717 2.240000 2.320000 2.256539 687.75 0.19 0.62 LBA37DA - 4.260000 12-Dec-37 17.99 1.922560 1.930403 1.917500 1.920000 1.919190 2,299.77 0.63 1.09 SB20NA - 1.850000 27-Nov-20 0.94 - - 1.335000 1.400000 1.367490 402.26 0.11 8.28 SB217A - 4.250000 15-Jul-21 1.57 - - 2.100000 2.100000 2.100000 0.21 0.00 0.00 SB23DA - 2.560000 13-Dec-23 3.98 - - 2.230000 2.500000 2.381718 3.58 0.00 0.05 SB24NA - 2.450000 27-Nov-24 4.94 - - 2.250000 2.600000 2.560541 4.48 0.00 0.03 SB25NA - 3.000000 19-Nov-25 5.92 - - 2.500000 2.500000 2.500000 2.06 0.00 0.01 SB295A - 3.050000 17-May-29 9.41 - - 2.450000 2.450000 2.450000 10.53 0.00 0.08 SBST215A - 2.500000 12-May-21 1.39 - - 2.100000 2.100000 2.100000 4.05 0.00 0.03 SBST265A - 2.250000 12-May-26 6.40 - - 1.470000 1.550000 1.509903 8.70 0.00 0.12 Sub Total 73,677.65 State Agency Bonds BOT202A - 1.521050 7-Feb-20 0.13 - - 1.180000 1.250000 1.232221 2,344.98 0.64 1.23 BOT202B - 1.340000 26-Feb-20 0.19 - - 1.200000 1.250000 1.219476 3,837.93 1.05 3.10 BOT203A - 1.770000 27-Mar-20 0.27 - - 1.200000 1.249000 1.215785 1,518.31 0.42 1.27 BOT205A - 1.610000 21-May-20 0.42 - - 1.225000 1.240000 1.231511 268.79 0.07 0.27 BOT208A - 1.820000 27-Aug-20 0.69 - - 1.160000 1.250000 1.236235 624.97 0.17 0.83 BOT209A - 1.570000 25-Sep-20 0.77 - - 1.225000 1.250000 1.232750 632.95 0.17 0.44 BOT20NA - 1.950000 26-Nov-20 0.94 - - 1.230000 1.250000 1.236303 1,663.06 0.45 1.94 BOT212A - 1.750000 18-Feb-21 1.17 - - 1.235000 1.260000 1.245172 7,571.29 2.07 7.04 BOT213A - 1.620000 12-Mar-21 1.23 - - 1.235000 1.255000 1.236906 645.81 0.18 0.44 BOT215A - 1.840000 27-May-21 1.44 - - 1.230000 1.255000 1.241939 6,424.15 1.76 6.19 BOT218A - 1.430000 26-Aug-21 1.68 - - 1.240000 1.255000 1.249858 5,694.77 1.56 5.07 Thai Bond Update, Issue 51/2019, December 20, 2019

2.7 Outright Transaction Report (Rank by Alphabetical Order)

Unit : THB mln. Wavg. Total % of Total Turnover Type/ Coupon Maturity Yrs. to Avg. Bid Yld. (%) Executed Yield (%) Symbol Executed Trading Trading Ratio Rating (%) Date Maturity Low High Low High Yld. (%) Value Value (%) BOT219A - 2.090000 24-Sep-21 1.76 - - 1.235000 1.265000 1.244011 719.91 0.20 0.88 BOT21NA - 1.320000 25-Nov-21 1.93 - - 1.245000 1.260000 1.254351 3,983.65 1.09 5.99 BOT223A - 1.810000 25-Mar-22 2.26 - - 1.250000 1.290000 1.262634 870.07 0.24 0.81 BOT229A - 1.440000 16-Sep-22 2.74 - - 1.260000 1.300000 1.277533 2,216.76 0.61 2.93 CB19D26A - - 26-Dec-19 0.02 - - 1.102500 1.180000 1.146316 5,451.78 1.49 12.12 CB19D26B - - 26-Dec-19 0.02 - - 1.120000 1.150000 1.138040 2,721.39 0.74 7.78 CB19D30A - - 30-Dec-19 0.03 - - 1.110000 1.170000 1.149207 25,651.37 7.01 64.13 CB20102A - - 2-Jan-20 0.04 - - 1.100000 1.140000 1.127635 1,633.29 0.45 4.08 CB20102B - - 2-Jan-20 0.04 - - 1.100000 1.180000 1.117376 2,321.23 0.63 5.80 CB20107A - - 7-Jan-20 0.05 - - 1.000000 1.123000 1.109196 29,680.76 8.12 74.20 CB20109A - - 9-Jan-20 0.05 - - 1.090000 1.160000 1.134985 2,051.62 0.56 5.13 CB20109B - - 9-Jan-20 0.05 - - 1.100000 1.160000 1.132984 3,984.32 1.09 9.96 CB20116A - - 16-Jan-20 0.07 - - 1.100000 1.155000 1.119588 2,491.93 0.68 6.23 CB20116B - - 16-Jan-20 0.07 - - 1.080000 1.160000 1.136441 5,237.28 1.43 13.09 CB20123A - - 23-Jan-20 0.09 - - 1.110000 1.155000 1.139237 1,048.87 0.29 2.62 CB20123B - - 23-Jan-20 0.09 - - 1.105000 1.160000 1.135967 1,448.44 0.40 3.62 CB20130A - - 30-Jan-20 0.11 - - 1.110000 1.160000 1.129069 1,940.43 0.53 4.85 CB20130B - - 30-Jan-20 0.11 - - 1.105000 1.160000 1.123334 1,738.76 0.48 4.35 CB20206A - - 6-Feb-20 0.13 - - 1.105000 1.150000 1.121725 1,416.88 0.39 4.05 CB20206B - - 6-Feb-20 0.13 - - 1.100000 1.165000 1.132754 1,440.77 0.39 4.12 CB20213A - - 13-Feb-20 0.15 - - 1.110000 1.150000 1.125280 3,002.95 0.82 8.58 CB20220A - - 20-Feb-20 0.17 - - 1.110000 1.140000 1.133111 5,885.50 1.61 14.71 CB20220B - - 20-Feb-20 0.17 - - 1.100000 1.160000 1.125825 1,015.07 0.28 2.90 CB20227A - - 27-Feb-20 0.19 - - 1.100000 1.160000 1.121218 1,004.86 0.27 2.51 CB20227B - - 27-Feb-20 0.19 - - 1.100000 1.165000 1.111027 1,299.24 0.36 3.71 CB20305A - - 5-Mar-20 0.21 - - 1.115000 1.162500 1.130505 1,328.85 0.36 3.32 CB20305B - - 5-Mar-20 0.21 - - 1.115000 1.170000 1.127456 1,584.40 0.43 4.53 CB20312A - - 12-Mar-20 0.23 - - 1.090000 1.180000 1.141939 4,585.94 1.25 8.50 CB20312B - - 12-Mar-20 0.23 - - 1.130000 1.140000 1.131424 350.10 0.10 0.88 CB20312C - - 12-Mar-20 0.23 - - 1.110000 1.170000 1.152617 2,135.21 0.58 6.10 CB20319A - - 19-Mar-20 0.25 - - 1.090000 1.160000 1.137727 1,705.14 0.47 4.26 CB20319B - - 19-Mar-20 0.25 - - 1.120000 1.144000 1.138070 25,852.06 7.07 86.17 CB20326A - - 26-Mar-20 0.27 - - 1.115000 1.180000 1.142133 2,161.38 0.59 5.40 CB20402A - - 2-Apr-20 0.28 - - 1.125000 1.185000 1.156985 1,882.68 0.51 5.38 CB20409A - - 9-Apr-20 0.30 - - 1.125000 1.190000 1.137971 2,044.11 0.56 5.84 CB20416A - - 16-Apr-20 0.32 - - 1.125000 1.190000 1.141886 870.80 0.24 2.49 CB20423A - - 23-Apr-20 0.34 - - 1.130000 1.175000 1.161914 153.38 0.04 0.33 CB20423B - - 23-Apr-20 0.34 - - 1.125000 1.175000 1.138490 1,036.99 0.28 2.96 CB20430A - - 30-Apr-20 0.36 - - 1.130000 1.190000 1.144406 2,095.33 0.57 5.99 CB20507A - - 7-May-20 0.38 - - 1.130000 1.190000 1.149509 1,838.04 0.50 5.25 CB20514A - - 14-May-20 0.40 - - 1.135000 1.190000 1.152637 4,141.80 1.13 9.47 CB20521A - - 21-May-20 0.42 - - 1.155000 1.165000 1.162833 298.54 0.08 0.85 CB20528A - - 28-May-20 0.44 - - 1.135000 1.190000 1.171228 1,222.69 0.33 3.49 CB20604A - - 4-Jun-20 0.46 - - 1.145000 1.190000 1.162279 610.75 0.17 1.14 CB20604B - - 4-Jun-20 0.46 - - 1.150000 1.195000 1.176376 9,726.03 2.66 27.79 CB20611A - - 11-Jun-20 0.48 - - 1.140000 1.195000 1.178389 5,440.48 1.49 15.54 CB20618A - - 18-Jun-20 0.50 - - 1.140000 1.190000 1.177550 29,974.34 8.20 99.91 CB20702A - - 2-Jul-20 0.53 - - 1.165000 1.205000 1.185346 1,662.44 0.45 4.02 CB20806A - - 6-Aug-20 0.63 - - 1.180000 1.225000 1.203560 196.51 0.05 0.46 CB20903A - - 3-Sep-20 0.71 - - 1.190000 1.222000 1.219011 7,670.84 2.10 15.34 CB20D03A - - 3-Dec-20 0.96 - - 1.160000 1.250000 1.215331 9,028.40 2.47 17.16 Thai Bond Update, Issue 51/2019, December 20, 2019

2.7 Outright Transaction Report (Rank by Alphabetical Order)

Unit : THB mln. Wavg. Total % of Total Turnover Type/ Coupon Maturity Yrs. to Avg. Bid Yld. (%) Executed Yield (%) Symbol Executed Trading Trading Ratio Rating (%) Date Maturity Low High Low High Yld. (%) Value Value (%) CB20N05A - - 5-Nov-20 0.88 - - 1.195000 1.250000 1.217512 5,128.02 1.40 11.16 CB20O01A - - 1-Oct-20 0.78 - - 1.190000 1.220000 1.213779 1,586.88 0.43 3.53 Sub Total 267,796.26 State Owned Enterprise Bonds BMTA367A G 3.610000 4-Jul-36 16.55 - - 2.089000 2.090000 2.089500 122.82 0.03 5.97 EGAT283B - 4.225000 28-Mar-28 8.28 - - 1.739000 1.740000 1.739500 120.03 0.03 12.00 EXAT229A G 1.830000 27-Sep-22 2.77 - - 1.335000 1.347500 1.341249 101.75 0.03 1.79 GSB225A G 2.330000 11-May-22 2.39 - - 1.385000 1.385000 1.385000 922.13 0.25 6.59 GSB26OA G 1.690000 16-Oct-26 6.83 - - 1.620000 1.625000 1.622500 201.46 0.06 2.06 Sub Total 1,468.20 Corporate Bonds AEON22NA /A-(tha) 2.270000 15-Nov-22 2.91 - - 2.070000 2.070000 2.070000 15.12 0.00 0.54 ANAN16PA /BB+ 8.500000 12-May-16 96.46 - - 0.000000 0.000000 0.000000 4.07 0.00 0.41 ANAN21OA - 4.000000 6-Oct-21 1.80 - - 4.277724 4.277724 4.277724 0.50 0.00 0.03 ANAN21OB - 3.800000 6-Oct-21 1.80 - - 4.200035 4.271073 4.215244 6.97 0.00 0.28 ANAN222A /BBB 3.950000 28-Feb-22 2.19 - - 3.900790 3.900790 3.900790 0.50 0.00 0.02 AP235A - 3.170000 17-May-23 3.41 - - 2.250000 2.250000 2.250000 20.65 0.01 0.69 AWN235A /AA+(tha) 2.510000 11-May-23 3.39 - - 1.900000 1.900000 1.900000 122.72 0.03 1.57 BAM247A /AA-(tha) 2.900000 18-Jul-24 4.58 - - 2.370000 2.410000 2.388589 258.58 0.07 5.75 BAM297A /AA-(tha) 3.600000 18-Jul-29 9.58 - - 3.130000 3.137500 3.133999 105.37 0.03 2.11 BAY20NA /AAA(tha) 1.850000 3-Nov-20 0.87 - - 1.440000 1.440000 1.440000 7.04 0.00 0.07 BAY211A /AAA(tha) 1.910000 26-Jan-21 1.10 - - 1.470000 1.560000 1.553576 81.94 0.02 0.55 BAY217A /AAA(tha) 2.220000 12-Jul-21 1.56 - - 1.530000 1.530000 1.530000 7.14 0.00 0.05 BAY21NA /AAA(tha) 1.720000 22-Nov-21 1.93 - - 1.580000 1.600000 1.599809 2,107.86 0.58 30.11 BCH226A /A- 2.550000 18-Jun-22 2.50 - - 1.845000 1.850000 1.848571 7.12 0.00 0.59 BCP19PA /BBB+ 5.000000 18-Oct-19 99.89 - - 0.000000 0.000000 0.000000 4.05 0.00 0.04 BEM225A /A 2.650000 9-May-22 2.39 - - 1.900000 1.900000 1.900000 40.82 0.01 4.08 BGRIM20OA /A- 2.810000 19-Oct-20 0.83 - - 2.020000 2.020000 2.020000 50.56 0.01 10.11 BJC203A /A+ 3.000000 24-Mar-20 0.26 - - 1.380000 1.405000 1.387325 86.99 0.02 0.72 BJC206A /A+ 2.710000 8-Jun-20 0.47 - - 1.390000 1.415000 1.400586 146.02 0.04 0.81 BJC233A /A+ 3.200000 24-Mar-23 3.26 - - 2.030000 2.030000 2.030000 4.18 0.00 0.08 BJC259A /A+ 2.860000 7-Sep-25 5.72 - - 2.405000 2.540000 2.416052 772.88 0.21 25.76 BJC269A /A+ 3.800000 7-Sep-26 6.72 - - 2.500000 2.600000 2.558787 138.06 0.04 0.69 BJC279A /A+ 2.990000 7-Sep-27 7.72 - - 2.760000 2.760000 2.760000 0.10 0.00 0.01 BTSC23NA /A 3.300000 10-Nov-23 3.89 - - 2.150000 2.550000 2.348547 10.39 0.00 0.25 BTSG209A /A 2.580000 7-Sep-20 0.72 - - 1.810000 1.810000 1.810000 121.53 0.03 3.42 BTSG215A /A 2.510000 24-May-21 1.43 - - 1.850000 1.850000 1.850000 10.11 0.00 1.01 CBG206A /A- 2.230000 15-Jun-20 0.49 - - 1.762500 1.762500 1.762500 17.54 0.00 1.03 CGD206A - 7.000000 25-Jun-20 0.52 - - 6.800000 6.800000 6.800000 5.00 0.00 0.50 CGD219A - 7.250000 6-Sep-21 1.72 - - 7.482500 7.482500 7.482500 13.00 0.00 2.53 CK20NA /A 2.240000 3-Nov-20 0.87 - - 1.575000 1.575000 1.575000 10.09 0.00 1.01 CK235B /A 2.740000 23-May-23 3.42 - - 2.200000 2.200000 2.200000 122.39 0.03 4.53 CK247A /A 3.510000 8-Jul-24 4.55 - - 2.500000 2.512500 2.504165 315.05 0.09 21.00 CK267A /A 3.820000 8-Jul-26 6.55 - - 2.700000 2.800000 2.774892 42.81 0.01 1.59 CK296A /A 3.660000 28-Jun-29 9.53 - - 3.250000 3.260000 3.253749 82.56 0.02 2.36 CKP216A /A- 2.560000 18-Jun-21 1.50 - - 2.090000 2.090000 2.090000 80.55 0.02 2.01 CPALL213B /A(tha) 4.850000 27-Mar-21 1.27 - - 1.740000 1.760000 1.749999 16.80 0.00 0.29 CPALL218B /A(tha) 4.750000 22-Aug-21 1.67 - - 1.800000 1.820000 1.809998 425.61 0.12 13.15 CPALL243B /A(tha) 5.140000 27-Mar-24 4.27 - - 2.330000 2.330000 2.330000 139.54 0.04 1.40 CPALL271A /AA- 3.950000 18-Jan-27 7.08 - - 2.565000 2.580000 2.572996 82.89 0.02 3.36 CPF204A /A+ 2.280000 12-Apr-20 0.31 - - 1.520000 1.580000 1.547082 48.32 0.01 1.58 Thai Bond Update, Issue 51/2019, December 20, 2019

2.7 Outright Transaction Report (Rank by Alphabetical Order)

Unit : THB mln. Wavg. Total % of Total Turnover Type/ Coupon Maturity Yrs. to Avg. Bid Yld. (%) Executed Yield (%) Symbol Executed Trading Trading Ratio Rating (%) Date Maturity Low High Low High Yld. (%) Value Value (%) CPF251A /A+ 3.050000 24-Jan-25 5.10 - - 2.185118 2.185118 2.185118 1.16 0.00 0.02 CPF28NA /A+ 4.410000 15-Nov-28 8.91 - - 2.970000 2.972000 2.971000 66.99 0.02 2.09 CPF30NA /A+ 4.660000 15-Nov-30 10.91 - - 2.943892 3.590155 3.105616 2.64 0.00 0.05 CPFTH287A /A+ 3.650000 15-Jul-28 8.58 - - 3.100000 3.115000 3.107496 316.85 0.09 28.80 CPFTH295A /A+ 4.000000 30-May-29 9.45 - - 3.200000 3.250000 3.224951 340.98 0.09 8.52 CPFTH315A /A+ 4.180000 30-May-31 11.45 - - 3.280000 3.350000 3.314888 412.24 0.11 6.34 CPNREIT212A /AA 2.540000 8-Feb-21 1.14 - - 1.770000 1.770000 1.770000 162.85 0.04 6.03 DA241A /BBB- 5.500000 31-Jan-24 4.12 - - 5.500000 5.600000 5.549909 10.06 0.00 0.43 DAD20NA /AAA(sf) 7.500000 29-Nov-20 0.95 - - 1.710000 1.710000 1.710000 190.49 0.05 10.58 DTC219A /BBB 3.500000 13-Sep-21 1.73 - - 3.100000 3.120000 3.107999 15.24 0.00 1.52 DTN279A /AA 3.580000 21-Sep-27 7.76 - - 2.699000 2.700000 2.699500 321.02 0.09 16.05 EA297A /A- 3.610000 11-Jul-29 9.56 - - 3.340000 3.467500 3.374594 429.66 0.12 21.48 EB203A /AA+(tha) 4.100000 12-Mar-20 0.23 - - 1.470000 1.470000 1.470000 162.73 0.04 16.27 GPSC29NA /AA- 2.860000 8-Nov-29 9.89 - - 2.670000 2.740000 2.671564 208.66 0.06 2.61 GPSC34NA /AA- 3.250000 8-Nov-34 14.90 - - 3.150000 3.150000 3.150000 40.63 0.01 0.63 HMPRO204A - 2.480000 27-Apr-20 0.35 - - 1.360000 1.360000 1.360000 5.04 0.00 0.13 ICBCTL219A /AAA(tha) 2.340000 23-Sep-21 1.76 - - 1.560000 1.562500 1.561250 10.15 0.00 0.34 ICBCTL264A /AAA(tha) 2.740000 8-Apr-26 6.30 - - 2.170000 2.170000 2.170000 155.81 0.04 7.79 IVL236B /AA- 2.780000 8-Jun-23 3.47 - - 2.140000 2.140000 2.140000 204.47 0.06 6.82 IVL256A /AA- 3.180000 8-Jun-25 5.47 - - 2.450000 2.480000 2.464989 207.52 0.06 13.83 JSP205A - 6.500000 23-May-20 0.42 - - 6.150000 6.250000 6.199990 1.01 0.00 0.20 KBANK264A /AA(tha) 3.950000 9-Apr-26 6.31 - - 3.680000 3.735000 3.713903 14.29 0.00 0.22 KCAR237A - 2.960000 25-Jul-23 3.60 - - 2.550000 2.550000 2.550000 5.13 0.00 0.73 KCC209B /AAA - 25-Sep-20 0.77 - - 1.380000 1.390000 1.388125 1,583.38 0.43 39.58 KK218A /A 1.990000 8-Aug-21 1.64 - - 1.810000 1.810000 1.810000 2.02 0.00 0.05 KK25DA /BBB+ 5.100000 23-Dec-25 6.01 - - 4.730000 5.020000 4.915760 121.17 0.03 4.04 KSL203A - 3.480000 13-Mar-20 0.23 - - 1.470000 1.555000 1.512490 9.94 0.00 0.50 KSL228A - 2.430000 19-Aug-22 2.67 - - 2.225000 2.260000 2.244436 227.88 0.06 7.60 KTC208B /A+ 2.200000 14-Aug-20 0.65 - - 1.530000 1.530000 1.530000 7.08 0.00 0.20 KTC226A /A+ 3.000000 1-Jun-22 2.45 - - 2.724804 2.724804 2.724804 0.51 0.00 0.02 LH204A /A+ 3.310000 2-Apr-20 0.28 - - 1.430000 1.430000 1.430000 16.20 0.00 1.62 MBSE20NA /AA-(sf) 3.350000 24-Nov-20 0.93 - - 1.950000 2.000000 1.974994 9.22 0.00 0.20 MBTH209A /AAA(tha) 1.970000 8-Sep-20 0.72 - - 1.400000 1.490000 1.403459 52.50 0.01 3.50 MBTH22NA /AAA(tha) - 28-Nov-22 2.94 - - 1.597500 1.600000 1.598750 95.52 0.03 3.62 MINT18PA /BBB+ 5.850000 28-Sep-18 98.84 - - 0.000000 0.000000 0.000000 5.20 0.00 0.03 MINT213A /A 2.270000 15-Mar-21 1.24 - - 1.630000 1.630000 1.630000 7.10 0.00 0.25 MINT223B /A 3.100000 29-Mar-22 2.27 - - 1.750000 1.795000 1.776343 38.34 0.01 1.06 MINT329A /A 3.930000 27-Sep-32 12.78 - - 3.350000 3.360000 3.354998 85.46 0.02 8.55 MINT343A /A 4.620000 29-Mar-34 14.28 - - 3.500000 3.540000 3.519958 79.30 0.02 2.58 MK23DA - 5.750000 1-Dec-23 3.95 - - 5.750000 5.750000 5.750000 8.31 0.00 0.53 MTC21NA - 4.100000 2-Nov-21 1.87 - - 3.598172 3.598172 3.598172 1.01 0.00 0.06 MTC222A /BBB+ 4.100000 28-Feb-22 2.19 - - 3.701459 3.706283 3.705170 2.63 0.00 0.16 MTC22NA - 4.300000 2-Nov-22 2.87 - - 3.250000 3.450000 3.349732 2.06 0.00 0.14 NTL221A /A- 2.800000 24-Jan-22 2.10 - - 2.330000 2.330000 2.330000 20.41 0.01 0.51 ORI207A - 4.300000 25-Jul-20 0.60 - - 3.700000 4.282645 3.990826 2.02 0.00 0.10 ORI225A - 4.150000 10-May-22 2.39 - - 3.285973 3.285973 3.285973 0.10 0.00 0.01 PL212A /A- 2.630000 24-Feb-21 1.18 - - 2.050000 2.050000 2.050000 10.15 0.00 2.03 PS20NA /A 2.640000 20-Nov-20 0.92 - - 1.610000 1.610000 1.610000 3.03 0.00 0.12 PTTEPT226A /AAA 2.260000 19-Jun-22 2.50 - - 1.740000 1.750000 1.744999 4.05 0.00 0.03 PTTGC249A /AA+(tha) 2.200000 5-Sep-24 4.72 - - 1.950000 2.000000 1.950978 51.89 0.01 3.46 PTTGC269A /AA+(tha) 2.430000 5-Sep-26 6.72 - - 2.060000 2.070000 2.063947 492.86 0.13 7.04 Thai Bond Update, Issue 51/2019, December 20, 2019

2.7 Outright Transaction Report (Rank by Alphabetical Order)

Unit : THB mln. Wavg. Total % of Total Turnover Type/ Coupon Maturity Yrs. to Avg. Bid Yld. (%) Executed Yield (%) Symbol Executed Trading Trading Ratio Rating (%) Date Maturity Low High Low High Yld. (%) Value Value (%) PTTGC299A /AA+(tha) 2.750000 5-Sep-29 9.72 - - 2.570000 2.570000 2.570000 23.74 0.01 1.58 QH213A /A- 2.160000 5-Mar-21 1.21 - - 1.780000 1.780000 1.780000 20.22 0.01 0.67 QH225A /A- 2.850000 8-May-22 2.38 - - 2.010000 2.025000 2.017499 4.09 0.00 0.12 SCC23NA /A+(tha) 3.000000 1-Nov-23 3.87 - - 1.950000 2.050000 2.002434 344.54 0.09 3.45 SCCC205A /A(tha) 2.490000 9-May-20 0.39 - - 1.430000 1.500000 1.464995 30.20 0.01 3.02 SGP221A /BBB+ 4.100000 30-Jan-22 2.12 - - 3.922389 3.936377 3.931713 1.51 0.00 0.05 SIRI218A /BBB+ 3.200000 23-Aug-21 1.68 - - 3.441383 3.441383 3.441383 2.99 0.00 0.06 SIRI21NB - 3.100000 8-Nov-21 1.89 - - 2.786458 2.816650 2.798532 0.50 0.00 0.04 SIRI222A /BBB+ 3.800000 27-Feb-22 2.19 - - 3.814739 3.814739 3.814739 1.00 0.00 0.02 SPALI213A /A 2.090000 15-Mar-21 1.24 - - 1.660000 1.660000 1.660000 10.11 0.00 0.34 TBEV203A /AA 1.790000 22-Mar-20 0.25 - - 1.480000 1.480000 1.480000 51.26 0.01 1.03 TBEV209A /AA(tha) 2.600000 19-Sep-20 0.75 - - 1.595000 1.660000 1.651582 210.82 0.06 4.49 TBEV213A /AA 2.100000 22-Mar-21 1.25 - - 1.710000 1.760000 1.724277 35.35 0.01 0.32 TBEV223A /AA(tha) 3.200000 19-Mar-22 2.25 - - 1.900000 1.900000 1.900000 10.36 0.00 0.02 TBEV233A /AA 2.760000 22-Mar-23 3.25 - - 2.070000 2.120000 2.105701 71.91 0.02 0.72 TBEV283A /AA 3.600000 22-Mar-28 8.26 - - 3.000000 3.155000 3.074650 79.58 0.02 0.55 TBEV293A /AA 4.000000 1-Mar-29 9.20 - - 2.889000 2.890000 2.889500 363.37 0.10 3.60 TCAP258A /A+ 4.950000 9-Aug-25 5.64 - - 2.119000 2.120000 2.119500 116.75 0.03 12.97 THANI20DC /A- 2.480000 11-Dec-20 0.98 - - 2.100000 2.125000 2.109127 548.00 0.15 21.92 THANI237A /A- 3.400000 5-Jul-23 3.54 - - 2.970000 2.970000 2.970000 35.46 0.01 7.29 TLT202A /AAA 2.140000 28-Feb-20 0.19 - - 1.260000 1.270000 1.265000 38.38 0.01 0.85 TLT209A /AAA 2.070000 10-Sep-20 0.73 - - 1.450000 1.450000 1.450000 5.06 0.00 0.13 TLT24OA /AAA 2.610000 31-Oct-24 4.87 - - 2.000000 2.000000 2.000000 10.32 0.00 0.29 TOLC22NB /AAA(tha) 1.860000 15-Nov-22 2.91 - - 1.740000 1.740000 1.740000 20.11 0.01 2.01 TOP243A /AA(tha) 4.840000 12-Mar-24 4.23 - - 2.000000 2.050000 2.024976 32.90 0.01 0.47 TPIPL207A /BBB+ 3.500000 7-Jul-20 0.55 - - 2.797641 3.850691 2.971790 18.13 0.00 0.91 TPIPL214A /BBB+ 4.350000 1-Apr-21 1.28 - - 3.300228 3.300228 3.300228 2.04 0.00 0.13 TPIPL214B /BBB+ 3.300000 26-Apr-21 1.35 - - 2.794970 3.313256 3.037125 124.84 0.03 1.56 TPIPL221A /BBB+ 4.100000 11-Jan-22 2.06 - - 4.054439 4.096523 4.059108 4.54 0.00 0.13 TPIPL231A /BBB+ 3.900000 11-Jan-23 3.06 - - 3.450000 4.002975 3.842067 6.05 0.00 0.20 TPIPP21NA /BBB+ 3.900000 28-Nov-21 1.94 - - 3.768533 3.779563 3.769965 15.47 0.00 0.39 TRUE221A /BBB+ 4.100000 31-Jan-22 2.12 - - 4.004853 4.004853 4.004853 1.51 0.00 0.01 TRUE228A /BBB+ 4.000000 24-Aug-22 2.68 - - 3.474000 4.052000 3.555486 7.10 0.00 0.12 TRUE248A /BBB+ 5.000000 24-Aug-24 4.68 - - 4.592733 4.592733 4.592733 2.04 0.00 0.02 TU19PA /A- 5.000000 29-Nov-19 100.01 - - 0.000000 0.000000 0.000000 2.01 0.00 0.03 TUC218A /BBB+ 3.700000 2-Aug-21 1.62 - - 3.812894 3.978146 3.886229 9.01 0.00 0.08 TUC238A /BBB+ 4.050000 2-Aug-23 3.62 - - 4.156897 4.163684 4.157867 3.50 0.00 0.04 TUC241A /BBB+ 5.100000 24-Jan-24 4.10 - - 4.660866 4.660866 4.660866 1.02 0.00 0.01 UWC213A - 6.500000 20-Mar-21 1.25 - - 6.503709 6.503709 6.503709 1.00 0.00 0.33 WHA226B /A- 2.750000 30-Jun-22 2.53 - - 2.630000 2.630000 2.630000 10.05 0.00 0.50 WHA264A /A- 3.690000 24-Apr-26 6.35 - - 3.020000 3.020000 3.020000 83.57 0.02 20.89 WHAUP216A /A- 2.650000 26-Jun-21 1.52 - - 2.280000 2.280000 2.280000 100.50 0.03 4.20 Sub Total 14,219.30 Commercial Paper BSL20615A - - 15-Jun-20 0.49 - - 2.050000 2.050000 2.050000 148.49 0.04 98.99 EB20117A - - 17-Jan-20 0.08 - - 1.440000 1.440000 1.440000 99.88 0.03 99.88 EB20117B - - 17-Jan-20 0.08 - - 1.440000 1.440000 1.440000 699.17 0.19 99.88 GLAND20611A - - 11-Jun-20 0.48 - - 2.150000 2.150000 2.150000 197.92 0.05 98.96 GOLD20618A - - 18-Jun-20 0.50 - - 1.590000 1.590000 1.590000 396.84 0.11 99.21 JWD20319A - - 19-Mar-20 0.25 - - 2.500000 2.500000 2.500000 198.76 0.05 99.38 KCAR20220A - - 20-Feb-20 0.17 - - 1.800000 1.800000 1.800000 99.68 0.03 99.68 Thai Bond Update, Issue 51/2019, December 20, 2019

2.7 Outright Transaction Report (Rank by Alphabetical Order)

Unit : THB mln. Wavg. Total % of Total Turnover Type/ Coupon Maturity Yrs. to Avg. Bid Yld. (%) Executed Yield (%) Symbol Executed Trading Trading Ratio Rating (%) Date Maturity Low High Low High Yld. (%) Value Value (%) KK20514A - - 14-May-20 0.40 - - 1.380000 1.410000 1.400999 994.45 0.27 198.89 KK20910A - - 10-Sep-20 0.73 - - 1.395000 1.430000 1.417868 1,069.04 0.29 167.04 MBKET20319A - - 19-Mar-20 0.25 - - 1.700000 1.700000 1.700000 2,987.48 0.82 99.58 ORI20317A - - 17-Mar-20 0.24 - - 3.250000 3.310000 3.279998 99.19 0.03 198.38 ORI20319A - - 19-Mar-20 0.25 - - 3.250000 3.310000 3.279998 59.51 0.02 198.38 SC20619A - - 19-Jun-20 0.50 - - 1.950000 1.950000 1.950000 79.23 0.02 99.03 SG20616A - - 16-Jun-20 0.49 - - 3.100000 3.100000 3.100000 98.49 0.03 98.49 SIRI20618A - - 18-Jun-20 0.50 - - 2.300000 2.300000 2.300000 49.43 0.01 98.87 TBANK20206A - - 6-Feb-20 0.13 - - 1.310000 1.320000 1.315000 199.68 0.05 3.99 TBANK20210A - - 10-Feb-20 0.14 - - 1.310000 1.320000 1.315000 199.65 0.05 15.36 TBANK20312A - - 12-Mar-20 0.23 - - 1.330000 1.340000 1.335000 538.45 0.15 9.17 THANI20319B - - 19-Mar-20 0.25 - - 1.570000 1.570000 1.570000 99.63 0.03 99.63 THANI20320A - - 20-Mar-20 0.25 - - 1.570000 1.570000 1.570000 189.26 0.05 99.61 THANI20618A - - 18-Jun-20 0.50 - - 1.600000 1.600000 1.600000 64.49 0.02 99.21 Sub Total 8,568.74 Grand Total 365,730.13

G: Guaranteed State Owned Enterprise NG: Non-guaranteed State Owned Enterprise Bond TP: Traded by Gross price F: Floating rate issue FC: Feature Change Remark : 1. Effective 3 April 2000, the sec requires all dealers to report all traded transactions in debt securities to ThaiBMA. 2. Non-registered bonds are not subject to ThaiBMA market monitoring. 3. Average Bids of government bonds are calculated from bids quoted by 9 primary dealers at minimum value of Bt 20 million. 4. For Inflation-Linked Bond, Coupon(%) is Real Coupon(%) and all the Yields(%) shown are Real YTM(%). The Prices of Inflation Linked Bond are shown as Unadjusted Prices, while all the Trading Value (THB) figures are in Adjusted terms. Thai Bond Update, Issue 51/2019, December 20, 2019

2.8 Financing and Other Transaction Report

Unit : THB mln.

Term Weighted Avg. Rate Total Trading Value Purpose Type (Days) (%) (THB mln.) Financing Transaction Government Bonds 1 1.243326 316,118.59 2 1.249885 42,640.00 3 1.243273 89,050.76 4 1.250000 5,900.00 5 1.247670 10,300.00 6 1.248000 3,100.00 7 1.251482 46,070.00 9 1.250000 20,900.00 10 1.255000 5,770.00 12 1.250000 21,820.00 14 1.250000 49,668.01 15 1.249178 37,232.00 20 1.270000 1,290.00 21 1.250000 20,200.00 25 1.245000 2,500.00 30 1.249000 1,200.00 31 1.250000 48,611.00 32 1.250000 24,629.64 Government Bonds Total 1.246432 747,000.00 State Agency Bonds 1 1.248738 2,523,596.96 2 1.244076 24,510.00 3 1.249243 637,271.37 4 1.249591 9,770.00 5 1.248883 28,480.00 6 1.246812 23,400.00 7 1.249897 898,100.00 8 1.245444 13,500.00 9 1.210000 270.00 10 1.245000 6,000.00 12 1.250000 26,400.00 14 1.249913 14,975.75 15 1.248983 7,868.00 16 1.250000 10,000.00 19 1.250000 20,000.00 20 1.249000 2,000.00 21 1.245000 800.00 26 1.249000 1,600.00 31 1.250000 15,225.27 32 1.250000 10,370.36 33 1.250000 8,500.00 49 1.249500 16,000.00 State Agency Bonds Total 1.249036 4,298,637.71 State Owned Enterprise Bonds 1 1.252000 1,600.00 4 1.250000 2,000.00 5 1.250000 3,000.00 7 1.255000 3,850.00 9 1.250000 1,850.00 12 1.250000 2,710.00 14 1.250000 541.24 31 1.250000 4.73 State Owned Enterprise Bonds Total 1.251443 15,555.97 Corporate Bonds 8 2.200000 30.95 16 2.100000 5.12 20 2.200000 31.34 25 3.500000 2.03 29 2.200000 4.07 30 2.563555 14.51 31 2.981250 5.01 32 2.110706 19.31 33 2.100000 5.24 39 2.200000 20.40 42 2.200000 20.40 43 2.400000 2.11 52 2.200000 2.05 58 3.750000 5.02 62 2.900000 4.99 86 3.209320 18.01 90 2.300000 31.13 91 2.300000 5.00 Corporate Bonds Total 2.387757 226.70 Thai Bond Update, Issue 51/2019, December 20, 2019

2.8 Financing and Other Transaction Report

Unit : THB mln.

Term Weighted Avg. Rate Total Trading Value Purpose Type (Days) (%) (THB mln.) Financing Transaction Total 1.248710 5,061,420.38 Other Transactions Government Bonds - 832.45 Government Bonds Total - 832.45 State Agency Bonds - 1,994.41 State Agency Bonds Total - 1,994.41 Other Transactions Total - 2,826.86 Grand Total 1.248013 5,064,247.24

Remark: For Inflation-Linked Bond, Coupon(%) is Real Coupon(%) and all the Yields(%) shown are Real YTM(%). The Prices of Inflation Linked Bond are shown as Unadjusted Prices, while all the Trading Value (THB) figures are in Adjusted terms. Thai Bond Update, Issue 51/2019, December 20, 2019

3. ขขอมมลตราสารหนนขขนนทะเบนยน Registered Bond Information Update (December 23 - December 29, 2019)

Coupon Payment Schedule (ranked by XI, XA Date)

Government Bonds Symbol XI Date Payment Date Period Days Coupon Rates (%) Registrar LB267A 28-Dec-19 7-Jan-20 7-Jul-19 - 6-Jan-20 184 6.1500 BOT State Agency Bonds Symbol XA Date Payment Date Period Days Coupon Rates (%) Registrar CB19D24A 23-Dec-19 24-Dec-19 11-Dec-19 - 23-Dec-19 13 - BOT CB19D26A 25-Dec-19 26-Dec-19 27-Jun-19 - 25-Dec-19 182 - BOT CB19D26B 25-Dec-19 26-Dec-19 26-Sep-19 - 25-Dec-19 91 - BOT CB19D30A 27-Dec-19 30-Dec-19 17-Dec-19 - 29-Dec-19 13 - BOT State Owned Enterprise Bonds Symbol XI Date Payment Date Period Days Coupon Rates (%) Registrar BMTA207A 23-Dec-19 2-Jan-20 2-Jul-19 - 1-Jan-20 184 3.8500 BOT PEA287A 23-Dec-19 6-Jan-20 5-Jul-19 - 4-Jan-20 184 3.1700 TMB SRT237A 24-Dec-19 3-Jan-20 3-Jul-19 - 2-Jan-20 184 6.5390 BOT BMTA367A 25-Dec-19 6-Jan-20 4-Jul-19 - 3-Jan-20 184 3.6100 BOT BMTA227A 28-Dec-19 7-Jan-20 7-Jul-19 - 6-Jan-20 184 3.8350 BOT BMTA267A 28-Dec-19 7-Jan-20 7-Jul-19 - 6-Jan-20 184 4.0000 BOT Corporate Bonds Symbol XI Date Payment Date Period Days Coupon Rates (%) Registrar A204A 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 5.9500 CIMBT A20OA 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 5.4000 CIMBT ACAP19OA 23-Dec-19 6-Jan-20 6-Oct-19 - 5-Jan-20 92 7.5000 CIMBT ACAP207A 23-Dec-19 6-Jan-20 6-Oct-19 - 5-Jan-20 92 6.5000 CIMBT ACC20OA 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 5.8000 BAY ANAN204A 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 3.9500 CIMBT ANAN20OA 23-Dec-19 6-Jan-20 6-Oct-19 - 5-Jan-20 92 3.5000 CIMBT ANAN214A 23-Dec-19 6-Jan-20 4-Oct-19 - 3-Jan-20 92 3.8000 KTB ANAN21OA 23-Dec-19 6-Jan-20 6-Oct-19 - 5-Jan-20 92 4.0000 CIMBT ANAN234A 23-Dec-19 6-Jan-20 4-Oct-19 - 3-Jan-20 92 4.5000 KTB BANPU207B 23-Dec-19 6-Jan-20 4-Jul-19 - 3-Jan-20 184 4.3600 BBL BANPU247A 23-Dec-19 6-Jan-20 4-Jul-19 - 3-Jan-20 184 4.8000 BBL DTN247A 23-Dec-19 6-Jan-20 5-Jul-19 - 4-Jan-20 184 2.8400 BBL DTN267B 23-Dec-19 6-Jan-20 5-Jul-19 - 4-Jan-20 184 3.1300 BBL DTN28DA 23-Dec-19 6-Jan-20 5-Jul-19 - 4-Jan-20 184 3.5000 BBL ECL20OA 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 4.4000 BAY EP204A 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 4.6500 CIMBT EP214A 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 5.1000 CIMBT JMT21OA 23-Dec-19 6-Jan-20 4-Oct-19 - 3-Jan-20 92 4.3000 BAY KTC247A 23-Dec-19 6-Jan-20 6-Jul-19 - 5-Jan-20 184 3.0000 BAY MBTH207A 23-Dec-19 6-Jan-20 5-Jul-19 - 4-Jan-20 184 2.1000 BAY NCAP217A 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 7.0000 CIMBT PF20OA 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 4.7500 BAY PF22OA 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 6.2500 BAY PHUKET207A 23-Dec-19 6-Jan-20 6-Oct-19 - 5-Jan-20 92 6.5000 BBL ROJNA22OA 23-Dec-19 6-Jan-20 6-Oct-19 - 5-Jan-20 92 4.1000 CIMBT SUPER204A 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 5.5000 BBL THANI217B 23-Dec-19 6-Jan-20 6-Oct-19 - 5-Jan-20 92 2.5000 BAY THANI227A 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 3.3000 BAY THANI227B 23-Dec-19 6-Jan-20 5-Jul-19 - 4-Jan-20 184 3.1000 BAY THANI237A 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 3.4000 BAY THANI247A 23-Dec-19 6-Jan-20 5-Oct-19 - 4-Jan-20 92 3.5000 BAY ASK207A 24-Dec-19 7-Jan-20 7-Oct-19 - 6-Jan-20 92 2.9800 BAY LALIN207A 24-Dec-19 7-Jan-20 7-Jul-19 - 6-Jan-20 184 3.3000 BBL MTLS207A 24-Dec-19 7-Jan-20 7-Oct-19 - 6-Jan-20 92 3.6000 MTC PF214A 24-Dec-19 7-Jan-20 7-Oct-19 - 6-Jan-20 92 5.7000 BAY A21OB 25-Dec-19 8-Jan-20 8-Oct-19 - 7-Jan-20 92 6.7500 CIMBT CK247A 25-Dec-19 8-Jan-20 8-Oct-19 - 7-Jan-20 92 3.5100 CIMBT CK267A 25-Dec-19 8-Jan-20 8-Oct-19 - 7-Jan-20 92 3.8200 CIMBT CK283A 25-Dec-19 8-Jan-20 8-Oct-19 - 7-Jan-20 92 3.9900 CIMBT KK28OA 25-Dec-19 8-Jan-20 8-Oct-19 - 7-Jan-20 92 4.0000 CIMBT MK214A 25-Dec-19 8-Jan-20 8-Oct-19 - 7-Jan-20 92 4.7000 BAY ALL21OA 26-Dec-19 9-Jan-20 9-Oct-19 - 8-Jan-20 92 6.5000 BAY KBANK264A 26-Dec-19 9-Jan-20 9-Oct-19 - 8-Jan-20 92 3.9500 KBANK TU21OA 26-Dec-19 9-Jan-20 9-Oct-19 - 8-Jan-20 92 4.2100 TMB TU24OA 26-Dec-19 9-Jan-20 9-Oct-19 - 8-Jan-20 92 4.5800 TMB BANPU207A 27-Dec-19 10-Jan-20 10-Jul-19 - 9-Jan-20 184 4.7500 BBL BANPU257A 27-Dec-19 10-Jan-20 10-Jul-19 - 9-Jan-20 184 5.0500 BBL CHO21OA 27-Dec-19 10-Jan-20 10-Oct-19 - 9-Jan-20 92 7.0000 SCB JMT227A 27-Dec-19 10-Jan-20 10-Oct-19 - 9-Jan-20 92 4.5000 BAY MJD204A 27-Dec-19 10-Jan-20 10-Oct-19 - 9-Jan-20 92 7.0000 BAY Thai Bond Update, Issue 51/2019, December 20, 2019

3. ขขอมมลตราสารหนนขขนนทะเบนยน Registered Bond Information Update (December 23 - December 29, 2019)

Symbol XI Date Payment Date Period Days Coupon Rates (%) Registrar ORI21OA 27-Dec-19 10-Jan-20 10-Oct-19 - 9-Jan-20 92 4.3000 BAY SPCG211A 27-Dec-19 10-Jan-20 10-Jul-19 - 9-Jan-20 184 2.2000 BAY Symbol XA Date Payment Date Period Days Coupon Rates (%) Registrar ILINK201A 23-Dec-19 6-Jan-20 6-Jul-19 - 5-Jan-20 184 4.7500 KBANK Commercial Paper Symbol XA Date Payment Date Period Days Coupon Rates (%) Registrar TISCOG20102A 23-Dec-19 2-Jan-20 3-Oct-19 - 1-Jan-20 91 1.7500 TISCOG ICBCTL20103A 24-Dec-19 3-Jan-20 26-Nov-19 - 2-Jan-20 38 - BAY ASK20106A 27-Dec-19 6-Jan-20 21-Jun-19 - 5-Jan-20 199 2.2500 BAY

Remark: The Coupon (%) of Inflation Linked Bond is Real Coupon (%). Thai Bond Update, Issue 51/2019, December 20, 2019

3. Registered Bond Information Update (December 16 - December 22, 2019) Redemption Schedule Redeemed Symbol Effective Date Maturity Date Registrar Remark Amount (THB mln.) State Agency Bonds CB19D17A 17-Dec-19 17-Dec-19 35,000.00 BOT Expired CB19D19A 19-Dec-19 19-Dec-19 45,000.00 BOT Expired CB19D19B 19-Dec-19 19-Dec-19 35,000.00 BOT Expired State Owned Enterprise Bonds BMTA19DB 15-Dec-19 15-Dec-19 1,000.00 BOT Expired Corporate Bonds JMART19DA 16-Dec-19 16-Dec-19 600.00 CIMBT Expired MJD19DA 16-Dec-19 16-Dec-19 300.00 BAY Expired SPCG19DA 16-Dec-19 16-Dec-19 1,800.00 BAY Expired WHH19DA 19-Dec-19 19-Dec-19 50.00 BAY Expired WHH19DB 19-Dec-19 19-Dec-19 300.00 Expired ACE206A 20-Dec-19 20-Jun-20 0.00 BBL Amortized ACE206A 20-Dec-19 20-Jun-20 1,450.00 BBL Called SPALI19DA 20-Dec-19 20-Dec-19 2,500.00 SCB Expired AEON19DA 21-Dec-19 21-Dec-19 1,000.00 BAY Expired BAM19DB 21-Dec-19 21-Dec-19 2,230.00 BAY Expired UNIQ19DA 21-Dec-19 21-Dec-19 440.00 BAY Expired Commercial Paper GLAND19D16A 16-Dec-19 16-Dec-19 200.00 Expired WHA19D16A 16-Dec-19 16-Dec-19 400.00 Expired YUANTA19D30A 16-Dec-19 30-Dec-19 10.00 Redemption ASK19D17A 17-Dec-19 17-Dec-19 500.00 BAY Expired BSL19D17A 17-Dec-19 17-Dec-19 150.00 Expired CPFTH19D17A 17-Dec-19 17-Dec-19 500.00 Expired KK19D17A 17-Dec-19 17-Dec-19 1,000.00 TMB Expired ORI19D17A 17-Dec-19 17-Dec-19 50.00 Expired SIRI19D17A 17-Dec-19 17-Dec-19 100.00 Expired SIRI19D17B 17-Dec-19 17-Dec-19 15.00 Expired WHA19D17A 17-Dec-19 17-Dec-19 200.00 Expired YUANTA19D30A 17-Dec-19 30-Dec-19 10.00 Redemption EB19D18A 18-Dec-19 18-Dec-19 600.00 Expired KK19D18A 18-Dec-19 18-Dec-19 500.00 TMB Expired SAWAD19D18A 18-Dec-19 18-Dec-19 100.00 Expired SC19D18A 18-Dec-19 18-Dec-19 140.00 Expired YUANTA19D18A 18-Dec-19 18-Dec-19 390.00 YUANTA Expired ASK19D19A 19-Dec-19 19-Dec-19 350.00 BAY Expired ASK19D19B 19-Dec-19 19-Dec-19 500.00 BAY Expired CHET19D19A 19-Dec-19 19-Dec-19 130.00 Expired CPF19D19A 19-Dec-19 19-Dec-19 150.00 Expired CPF19D19B 19-Dec-19 19-Dec-19 600.00 Expired KK19D19A 19-Dec-19 19-Dec-19 500.00 TMB Expired KK19D19B 19-Dec-19 19-Dec-19 80.00 TMB Expired KTC19D19A 19-Dec-19 19-Dec-19 300.00 Expired MBKET19D19A 19-Dec-19 19-Dec-19 1,000.00 Expired MK19D19A 19-Dec-19 19-Dec-19 100.00 Expired MTC19D19A 19-Dec-19 19-Dec-19 50.00 Expired ORI19D19A 19-Dec-19 19-Dec-19 50.00 Expired ORI19D19B 19-Dec-19 19-Dec-19 30.00 Expired SAWAD19D19A 19-Dec-19 19-Dec-19 50.00 Expired SC19D19A 19-Dec-19 19-Dec-19 80.00 Expired SIRI19D19A 19-Dec-19 19-Dec-19 50.00 Expired TBANK19D19A 19-Dec-19 19-Dec-19 3,000.00 TBANK Expired THANI19D19A 19-Dec-19 19-Dec-19 65.00 Expired THANI19D19B 19-Dec-19 19-Dec-19 100.00 Expired TLT19D19A 19-Dec-19 19-Dec-19 1,400.00 BAY Expired TSE19D19A 19-Dec-19 19-Dec-19 100.00 Expired WHA19D19A 19-Dec-19 19-Dec-19 200.00 Expired WHA19D19B 19-Dec-19 19-Dec-19 650.00 Expired YUANTA19D19A 19-Dec-19 19-Dec-19 25.00 YUANTA Expired ASK19D20A 20-Dec-19 20-Dec-19 220.00 BAY Expired Thai Bond Update, Issue 51/2019, December 20, 2019

3. Registered Bond Information Update (December 16 - December 22, 2019) Redemption Schedule Redeemed Symbol Effective Date Maturity Date Registrar Remark Amount (THB mln.) KK19D20A 20-Dec-19 20-Dec-19 320.00 TMB Expired THANI19D20A 20-Dec-19 20-Dec-19 40.00 Expired THANI19D20B 20-Dec-19 20-Dec-19 150.00 Expired

Remark: The redeemed amount of Inflation-Linked Bond (ILB) is unadjusted by inflation and does not reflect a floor option on its principal. Thai Bond Update, Issue 51/2019, December 20, 2019

3. Registered Bond Information Update (December 16 - December 20, 2019)

Company Rating New Previous Issuer Effective Rating Rating Effective Rating Rating Date Action Date Action TRIS Rating DTC 17-Dec-19 BBB Downgraded Stable 27-Feb-19 BBB+ Affirmed Stable LPN 19-Dec-19 A- Affirmed Negative 1-Oct-19 A- Affirmed Stable GULF 20-Dec-19 A Affirmed Stable 25-Dec-18 A Assigned Stable

Issue Rating New Previous Symbol Effective Rating Rating Effective Rating Rating Date Action Date Action TRIS Rating DTC219A 17-Dec-19 BBB Downgraded Stable 27-Feb-19 BBB+ Affirmed Stable LPN224A 19-Dec-19 A- Affirmed Negative 1-Oct-19 A- Affirmed Stable LPN22OA 19-Dec-19 A- Affirmed Negative 1-Oct-19 A- Assigned Stable GULF221A 20-Dec-19 A- Affirmed Stable 25-Dec-18 A- Assigned Stable GULF241A 20-Dec-19 A- Affirmed Stable 25-Dec-18 A- Assigned Stable GULF261A 20-Dec-19 A- Affirmed Stable 25-Dec-18 A- Assigned Stable GULF291A 20-Dec-19 A- Affirmed Stable 25-Dec-18 A- Assigned Stable

Long-term Outstanding Adjustment Redeem Amount Outstanding Size Symbol Maturity Date (THB mln.) (THB mln.) ACE206A 20-Jun-20 0.00 0.00

Coupon Reset Schedule

Symbol Reset Date Coupon Date Coupon Rate (%) MOFL25DA 16-Dec-19 18-Jun-20 5.26638 MOFL27DA 16-Dec-19 18-Jun-20 5.36638 Thai Bond Update, Issue 51/2019, December 20, 2019 4. New Debt Securities in December 2019 (December 1 - December 20, 2019)

Government Debt Security Bond

Coupon Accepted Amount New Total Par Registered Issue Issue Size Term Rate Registered Outstandin (THB) Avg.Yield Bid Yield (%) Date (%) Auction Maturity Total CB NCB BCR Value g Date Date (%) Range Government Bonds LB356A 56,310.00 1,000 15.83Y 1.6000 4-Dec-19 17-Jun-35 15,000.00 13,950.00 1,050.00 1.80070 1.79000 1.80700 2.31 23-Aug-19 15,000.00 15,000.00 LB496A 8,900.00 1,000 29.68Y 1.8750 4-Dec-19 17-Jun-49 3,600.00 3,000.00 600.00 2.00210 1.98000 2.03500 3.22 18-Oct-19 3,600.00 3,600.00 Total 18,600.00 State Agency Bonds CB20305B 35,000.00 1,000 90D 0.0000 3-Dec-19 5-Mar-20 35,000.00 35,000.00 - 1.22790 1.22400 1.23000 2.15 6-Dec-19 35,000.00 35,000.00 CB20604B 35,000.00 1,000 181D 0.0000 3-Dec-19 4-Jun-20 35,000.00 35,000.00 - 1.24137 1.22000 1.24900 2.85 6-Dec-19 35,000.00 35,000.00 CB20D03A 52,614.00 1,000 363D 0.0000 3-Dec-19 3-Dec-20 52,614.00 52,614.00 - 1.25807 1.24800 1.26000 2.56 6-Dec-19 52,614.00 52,614.00 CB19D24A 35,000.00 1,000 13D 0.0000 6-Dec-19 24-Dec-19 35,000.00 35,000.00 - 1.16664 1.15000 1.17000 1.44 11-Dec-19 35,000.00 35,000.00 CB20312C 35,000.00 1,000 91D 0.0000 9-Dec-19 12-Mar-20 35,000.00 35,000.00 - 1.17165 1.16800 1.17500 1.59 12-Dec-19 35,000.00 35,000.00 CB20611A 35,000.00 1,000 182D 0.0000 9-Dec-19 11-Jun-20 35,000.00 35,000.00 - 1.20804 1.19200 1.22200 2.03 12-Dec-19 35,000.00 35,000.00 BOT21NA 66,479.00 1,000 2.00Y 1.3200 12-Dec-19 25-Nov-21 34,879.00 34,879.00 - 1.25740 1.25200 1.26300 3.62 25-Nov-19 34,879.00 34,879.00 BOT222A 101,387.00 1,000 3.00Y 1.2767 13-Dec-19 26-Feb-22 18,000.00 18,000.00 - 1.29843 1.29443 1.30043 2.67 26-Feb-19 18,000.00 18,000.00 CB19D30A 40,000.00 1,000 13D 0.0000 13-Dec-19 30-Dec-19 40,000.00 40,000.00 - 1.16183 1.14000 1.25200 1.04 17-Dec-19 40,000.00 40,000.00 CB20319B 30,000.00 1,000 91D 0.0000 17-Dec-19 19-Mar-20 30,000.00 30,000.00 - 1.14062 1.13000 1.14400 3.38 19-Dec-19 30,000.00 30,000.00 CB20618A 30,000.00 1,000 182D 0.0000 17-Dec-19 18-Jun-20 30,000.00 30,000.00 - 1.18365 1.17500 1.19000 3.06 19-Dec-19 30,000.00 30,000.00 CB20107A 40,000.00 1,000 14D 0.0000 20-Dec-19 7-Jan-20 40,000.00 40,000.00 - 1.11272 1.10000 1.12300 1.82 24-Dec-19 40,000.00 40,000.00 Total 420,493.00 Remark: For Inflation-Linked Bond, all the Yields (%) shown are Real Yield (%). Thai Bond Update, Issue 51/2019, December 20, 2019 4. New Debt Securities in December 2019 (December 1 - December 20, 2019)

Corporate Bonds

Total Issue Size Outstanding Term Coupon Coupon Maturity Payment Lead Registered Symbol Type Par Issue Rating Issue Date (THB mln.) (THB) Value (Yrs) Type Rate (%) Date Date U/W Date (THB mln.)

RML21DA 194.00 1,000 194.00 2.00 Fixed 5.25 4-Dec-19 4-Dec-21 04/03,04/06 AEC 4-Dec-19 04/09,04/12 TNITY21DA 83.00 1,000 83.00 2.00 Fixed 3.80 4-Dec-19 2-Dec-21 02/03,02/06 TRISEC 4-Dec-19 02/09,02/12 TRUE213A 1,630.00 1,000 1,630.00 1.25 Fixed 2.90 4-Dec-19 4-Mar-21 04/03,04/06 BBL 4-Dec-19 04/09,04/12 KBANK SCB WHART22DA 1,000.00 1,000 TRIS : A 1,000.00 3.00 Fixed 2.30 4-Dec-19 4-Dec-22 04/03,04/06 KBANK 4-Dec-19 04/09,04/12 WHART26DA 500.00 1,000 TRIS : A 500.00 7.01 Fixed 2.90 4-Dec-19 4-Dec-26 04/03,04/06 KBANK 4-Dec-19 04/09,04/12 MK23DA 1,565.00 1,000 1,565.00 3.97 Fixed 5.75 12-Dec-19 1-Dec-23 12/03,12/06 CNS 12-Dec-19 12/09,12/12 FSL FSS GBS KGI ALL216A 200.00 1,000 200.00 1.50 Fixed 6.40 13-Dec-19 13-Jun-21 13/03,13/06 KT ZMICO 13-Dec-19 13/09,13/12 IRIS216A C 240.00 1,000 240.00 1.49 Fixed 7.00 13-Dec-19 10-Jun-21 13/03,13/06 KTBST 13-Dec-19 13/09,13/12 PL24DA 350.00 1,000 350.00 5.01 Fixed 3.10 17-Dec-19 17-Dec-24 17/06,17/12 UOBT 17-Dec-19

SJ20DA 135.00 22,500,000 135.00 1.01 Fixed 4.80 17-Dec-19 18-Dec-20 18/03,18/06 17-Dec-19 18/09,18/12 TLT20DA 500.00 1,000 TRIS : AAA 500.00 1.00 Fixed 1.50 17-Dec-19 16-Dec-20 17/06,16/12 BBL 17-Dec-19

LIT21DA 520.60 1,000 520.60 2.00 Fixed 5.25 19-Dec-19 19-Dec-21 19/03,19/06 ASPS 19-Dec-19 19/09,19/12 FSS GBS KGI LIT22DA 393.00 1,000 393.00 3.00 Fixed 5.50 19-Dec-19 19-Dec-22 19/03,19/06 ASPS 19-Dec-19 19/09,19/12 FSS GBS KGI TUC22DA 6,772.90 1,000 TRIS : BBB+ 6,772.90 3.00 Fixed 3.50 19-Dec-19 19-Dec-22 19/03,19/06 BBL 19-Dec-19 19/09,19/12 CIMBT KBANK SCB TBANK TUC243A 4,182.90 1,000 TRIS : BBB+ 4,182.90 4.25 Fixed 4.10 19-Dec-19 19-Mar-24 19/03,19/06 BBL 19-Dec-19 19/09,19/12 CIMBT KBANK SCB TBANK TUC256A 18,544.20 1,000 TRIS : BBB+ 18,544.20 5.50 Fixed 4.70 19-Dec-19 19-Jun-25 19/03,19/06 BBL 19-Dec-19 19/09,19/12 CIMBT KBANK SCB TBANK WGH216A C 300.00 1,000 300.00 1.50 Fixed 6.50 19-Dec-19 19-Jun-21 19/03,19/06 RHBS 19-Dec-19 19/09,19/12 WHH20DA 335.00 33,500,000 335.00 1.00 Fixed 4.80 19-Dec-19 18-Dec-20 18/03,18/06 19-Dec-19 18/09,18/12 TTW272A 1,000.00 1,000 TRIS : AA- 1,000.00 7.18 Fixed 2.41 20-Dec-19 20-Feb-27 20/02,20/08 BBL 20-Dec-19

UWC213A C 300.00 1,000 300.00 1.25 Fixed 6.50 20-Dec-19 20-Mar-21 20/03,20/06 ASPS 20-Dec-19 20/09,20/12 KTBST

C:Callable , P:Puttable , V:Convertible , A:Amortized , T:TradeByPrice , N:NotCalculable Thai Bond Update, Issue 51/2019, December 20, 2019

4. New Debt Securities in December 2019 (December 1 - December 20, 2019)

Commercial Paper Issue Size Term Coupon Rate Maturity Registered Symbol Type Issue Rating Issue Date (THB mln.) (Days) (%) Date Date ASK20528A 100 177 1.85 3-Dec-19 28-May-20 3-Dec-19 BSL20528A 25 177 - 3-Dec-19 28-May-20 3-Dec-19 GUNKUL20303A 130 91 - 3-Dec-19 3-Mar-20 3-Dec-19 LH19D25B 1,000 22 - 3-Dec-19 25-Dec-19 3-Dec-19 MK20528A 40 177 - 3-Dec-19 28-May-20 3-Dec-19 MTC20303A 50 91 - 3-Dec-19 3-Mar-20 3-Dec-19 MTC20305B 100 93 - 3-Dec-19 5-Mar-20 3-Dec-19 PL20303A 150 91 - 3-Dec-19 3-Mar-20 3-Dec-19 SENA20528A 100 177 - 3-Dec-19 28-May-20 3-Dec-19 SIRI20528A 40 177 - 3-Dec-19 28-May-20 3-Dec-19 TFG20602A 20 182 - 3-Dec-19 2-Jun-20 3-Dec-19 THANI20528A 50 177 - 3-Dec-19 28-May-20 3-Dec-19 TSFC20303A 10 91 - 3-Dec-19 3-Mar-20 3-Dec-19 YUANTA19D30B 10 27 1.80 3-Dec-19 30-Dec-19 3-Dec-19 BSL20304A 50 91 - 4-Dec-19 4-Mar-20 4-Dec-19 GOLD20604A 700 183 - 4-Dec-19 4-Jun-20 4-Dec-19 SC20604A 60 183 - 4-Dec-19 4-Jun-20 4-Dec-19 SG20303A 10 90 - 4-Dec-19 3-Mar-20 4-Dec-19 THANI20304A 400 91 - 4-Dec-19 4-Mar-20 4-Dec-19 THANI20305B 1,000 92 - 4-Dec-19 5-Mar-20 4-Dec-19 ASK20611A 200 188 1.85 6-Dec-19 11-Jun-20 6-Dec-19 LALIN19D30C 50 24 - 6-Dec-19 30-Dec-19 6-Dec-19 MBKET20304A 100 89 - 6-Dec-19 4-Mar-20 6-Dec-19 MBKET20306A 500 91 - 6-Dec-19 6-Mar-20 6-Dec-19 MTC20313A 100 98 - 6-Dec-19 13-Mar-20 6-Dec-19 ESSO20110A 500 32 - 9-Dec-19 10-Jan-20 9-Dec-19 KK20507A 530 150 - 9-Dec-19 7-May-20 9-Dec-19 YUANTA19D30C 70 21 1.80 9-Dec-19 30-Dec-19 9-Dec-19 EB20115A 700 35 - 11-Dec-19 15-Jan-20 11-Dec-19 GOLD20611A 400 183 - 11-Dec-19 11-Jun-20 11-Dec-19 JWD20312A 300 92 - 11-Dec-19 12-Mar-20 11-Dec-19 KTC20107B 500 27 - 11-Dec-19 7-Jan-20 11-Dec-19 KTC20109A 330 29 - 11-Dec-19 9-Jan-20 11-Dec-19 KTC20110A 20 30 - 11-Dec-19 10-Jan-20 11-Dec-19 MK20311A 12 91 - 11-Dec-19 11-Mar-20 11-Dec-19 PF20311A 250 91 - 11-Dec-19 11-Mar-20 11-Dec-19 BSL20312B 140 91 - 12-Dec-19 12-Mar-20 12-Dec-19 BSL20611A 200 182 - 12-Dec-19 11-Jun-20 12-Dec-19 BTSG20312A 455 91 - 12-Dec-19 12-Mar-20 12-Dec-19 ESC20312A 250 91 - 12-Dec-19 12-Mar-20 12-Dec-19 KK20709A 1,000 210 1.54 12-Dec-19 9-Jul-20 12-Dec-19 KTC20103A 600 22 - 12-Dec-19 3-Jan-20 12-Dec-19 KTC20108A 500 27 - 12-Dec-19 8-Jan-20 12-Dec-19 KTC20110B 250 29 - 12-Dec-19 10-Jan-20 12-Dec-19 KTC20110C 500 29 - 12-Dec-19 10-Jan-20 12-Dec-19 PL20311A 100 90 - 12-Dec-19 11-Mar-20 12-Dec-19 SIRI20609A 150 180 - 12-Dec-19 9-Jun-20 12-Dec-19 THANI20312A 700 91 - 12-Dec-19 12-Mar-20 12-Dec-19 THANI20312B 150 91 - 12-Dec-19 12-Mar-20 12-Dec-19 Thai Bond Update, Issue 51/2019, December 20, 2019

4. New Debt Securities in December 2019 (December 1 - December 20, 2019)

Commercial Paper Issue Size Term Coupon Rate Maturity Registered Symbol Type Issue Rating Issue Date (THB mln.) (Days) (%) Date Date THANI20312C 280 91 - 12-Dec-19 12-Mar-20 12-Dec-19 THANI20313B 140 92 - 12-Dec-19 13-Mar-20 12-Dec-19 ASK20312B 130 90 1.85 13-Dec-19 12-Mar-20 13-Dec-19 BTSG20312B 300 90 - 13-Dec-19 12-Mar-20 13-Dec-19 KK20907A 1,000 269 1.56 13-Dec-19 7-Sep-20 13-Dec-19 RHBS20313A 200 91 - 13-Dec-19 13-Mar-20 13-Dec-19 THANI20312D 60 90 - 13-Dec-19 12-Mar-20 13-Dec-19 THANI20312E 200 90 - 13-Dec-19 12-Mar-20 13-Dec-19 THANI20313C 1,400 91 - 13-Dec-19 13-Mar-20 13-Dec-19 GLAND20611A 200 178 - 16-Dec-19 11-Jun-20 16-Dec-19 KCAR20220A 100 66 - 16-Dec-19 20-Feb-20 16-Dec-19 ORI20313A 40 88 - 16-Dec-19 13-Mar-20 16-Dec-19 YUANTA19D30D 10 14 1.80 16-Dec-19 30-Dec-19 16-Dec-19 ASK20213A 200 58 1.75 17-Dec-19 13-Feb-20 17-Dec-19 ASK20319C 260 93 1.85 17-Dec-19 19-Mar-20 17-Dec-19 BSL20615A 150 181 - 17-Dec-19 15-Jun-20 17-Dec-19 KK20514A 500 149 - 17-Dec-19 14-May-20 17-Dec-19 KK20910A 640 268 - 17-Dec-19 10-Sep-20 17-Dec-19 KK20911A 100 269 - 17-Dec-19 11-Sep-20 17-Dec-19 ORI20317A 50 91 - 17-Dec-19 17-Mar-20 17-Dec-19 EB20117A 100 30 - 18-Dec-19 17-Jan-20 18-Dec-19 EB20117B 700 30 - 18-Dec-19 17-Jan-20 18-Dec-19 GOLD20618A 400 183 - 18-Dec-19 18-Jun-20 18-Dec-19 SAWAD20316A 100 89 - 18-Dec-19 16-Mar-20 18-Dec-19 SC20618A 140 183 - 18-Dec-19 18-Jun-20 18-Dec-19 YUANTA20618A 390 183 1.80 18-Dec-19 18-Jun-20 18-Dec-19 ASK20319D 200 91 1.85 19-Dec-19 19-Mar-20 19-Dec-19 ASK20320A 300 92 1.85 19-Dec-19 20-Mar-20 19-Dec-19 ASK20618A 150 182 1.85 19-Dec-19 18-Jun-20 19-Dec-19 JWD20319A 200 91 - 19-Dec-19 19-Mar-20 19-Dec-19 KK20521C 70 154 - 19-Dec-19 21-May-20 19-Dec-19 MTC20313B 40 85 - 19-Dec-19 13-Mar-20 19-Dec-19 MTC20619A 40 183 - 19-Dec-19 19-Jun-20 19-Dec-19 ORI20319A 30 91 - 19-Dec-19 19-Mar-20 19-Dec-19 SAWAD20317A 50 89 - 19-Dec-19 17-Mar-20 19-Dec-19 SC20619A 80 183 - 19-Dec-19 19-Jun-20 19-Dec-19 SG20616A 100 180 - 19-Dec-19 16-Jun-20 19-Dec-19 SIRI20618A 50 182 - 19-Dec-19 18-Jun-20 19-Dec-19 THANI20319B 100 91 - 19-Dec-19 19-Mar-20 19-Dec-19 THANI20618A 65 182 - 19-Dec-19 18-Jun-20 19-Dec-19 TISCOG20312A 140 84 1.52 19-Dec-19 12-Mar-20 19-Dec-19 TISCOG20319A 460 91 1.52 19-Dec-19 19-Mar-20 19-Dec-19 YUANTA19D30E 30 11 1.80 19-Dec-19 30-Dec-19 19-Dec-19 YUANTA20618B 25 182 1.80 19-Dec-19 18-Jun-20 19-Dec-19 ASK20120A 100 31 1.75 20-Dec-19 20-Jan-20 20-Dec-19 ASK20320B 120 91 1.85 20-Dec-19 20-Mar-20 20-Dec-19 GOLD20618B 1,000 181 - 20-Dec-19 18-Jun-20 20-Dec-19 KK20914A 100 269 - 20-Dec-19 14-Sep-20 20-Dec-19 KK20915A 550 270 - 20-Dec-19 15-Sep-20 20-Dec-19 Thai Bond Update, Issue 51/2019, December 20, 2019

4. New Debt Securities in December 2019 (December 1 - December 20, 2019)

Commercial Paper Issue Size Term Coupon Rate Maturity Registered Symbol Type Issue Rating Issue Date (THB mln.) (Days) (%) Date Date MBKET20319A 3,000 90 - 20-Dec-19 19-Mar-20 20-Dec-19 THANI20320A 190 91 - 20-Dec-19 20-Mar-20 20-Dec-19 C:Callable , P:Puttable , V:Convertible , A:Amortized , T:TradeByPrice , N:NotCalculabl Thai Bond Update, Issue 51/2019, December 20, 2019 5. Market News

Auction Calendar

Calendar of Government Debt Securities Auction in December 2019 Unit : THB mln. Mon Tue Wed Thu Fri Amount 2 3 4 5 6 CB20305B - 35,000 LB356A - 15,000 CB19D24A - 35,000 CB20604B - 35,000 LB496A - 3,000 201949 CB20D03A - 45,000 168,000

9 10 11 12 13 CB20312C - 35,000 BOT21NA - 30,000 BOT222A - 15,000 CB20611A - 35,000 CB19D30A - 40,000 201950 155,000

16 17 18 19 20 CB20319B - 30,000 CB20107A - 40,000 CB20618A - 30,000 201951 100,000

23 24 25 26 27 CB20326B - 30,000 CB20402B - 30,000 CB20625A - 30,000 CB20702B - 30,000 201952 120,000

30 31 1 2 3

202001

Total 543,000

Remark : Auction schedule is based on the last information received on December 20,2019 and subjected to prior change by PDMO and BOT. Features of Government Debt Securities for the auction next week

Coupon Amount Issue Issue Name Term Issue Date Maturity Date (%) (THB mln.) * State Agency Bonds CB20326B BOT62/52/91D 91D - 30,000 26-Dec-19 26-Mar-20 CB20625A BOT62/52/182D 182D - 30,000 26-Dec-19 25-Jun-20 CB20402B BOT62/53/91D 91D - 30,000 02-Jan-20 02-Apr-20 CB20702B BOT62/53/182D 182D - 30,000 02-Jan-20 02-Jul-20 CB: Central Bank

Remark: The Coupon (%) of Inflation Linked Bond is Real Coupon (%). Thai Bond Update, Issue 51/2019, December 20, 2019 5. Market News

YUANTA informs to partially redeem YUANTA19D30A on December 16, 2019.

YUANTA SECURITIES (THAILAND) COMPANY LIMITED (YUANTA) informs to partially redeem YUANTA19D30A worth THB 10.00 million is on December 16, 2019. Therefore, the YUANTA19D30A to be reduced the outstanding on the mark to market page since December 16, 2019.

Bill of Exchange of GLAND to be registered on December 16, 2019

The Bill of Exchange issued by GRAND CANAL LAND PUBLIC COMPANY LIMITED to be registered with ThaiBMA on December 16, 2019; consist of According to the company, intent to request for commercial paper registration with Thai Bond Market Association (ThaiBMA) as following details; GLAND20611A is 178 - day, bill of exchange worth of THB 200.00 million. The issue date is December 16, 2019 and the maturity date is June 11, 2020.

Bill of Exchange of YUANTA to be registered on December 16, 2019

The Bill of Exchange issued by YUANTA SECURITIES (THAILAND) COMPANY LIMITED to be registered with ThaiBMA on December 16, 2019; consist of According to the company, intent to request for commercial paper registration with Thai Bond Market Association (ThaiBMA) as following details; YUANTA19D30D is 14 - day, bill of exchange worth of THB 10.00 million. The issue date is December 16, 2019 and the maturity date is December 30, 2019.

PL24DA has been registered with ThaiBMA on December 17, 2019

PL24DA is issued by PHATRA LEASING PUBLIC COMPANY LIMITED (PL) has been registered with ThaiBMA on December 17, 2019, details are as follows;

PL24DA is a PHATRA LEASING PUBLIC COMPANY LIMITED debenture with the issue size of THB 350.00 million. It has fixed rate of 3.10% per annum. Interest is payable semi-annually. The issue date is December 17, 2019 and the maturity date is December 17, 2024.

BANK OF AYUDHYA PUBLIC COMPANY LIMITED, is assigned as the bondholder representative and the registrar. UNITED OVERSEAS BANK (THAI) PUBLIC COMPANY LIMITED, are assigned as the underwriter.

YUANTA informs to partially redeem YUANTA19D30A on December 17, 2019.

YUANTA SECURITIES (THAILAND) COMPANY LIMITED (YUANTA) informs to partially redeem YUANTA19D30A worth THB 10.00 million is on December 17, 2019. Therefore, the YUANTA19D30A to be reduced the outstanding on the mark to market page since December 17, 2019. Thai Bond Update, Issue 51/2019, December 20, 2019 5. Market News

Bill of Exchange of BSL to be registered on December 17, 2019

The Bill of Exchange issued by BSL LEASING COMPANY LIMITED to be registered with ThaiBMA on December 17, 2019; consist of According to the company, intent to request for commercial paper registration with Thai Bond Market Association (ThaiBMA) as following details; BSL20615A is 181 - day, bill of exchange worth of THB 150.00 million. The issue date is December 17, 2019 and the maturity date is June 15, 2020.

Debenture of KK to be registered on December 17, 2019

The Debenture issued by KIATNAKIN BANK PUBLIC COMPANY LIMITED to be registered with ThaiBMA on December 17, 2019; consist of According to the company, intent to request for commercial paper registration with Thai Bond Market Association (ThaiBMA) as following details; KK20514A is 149 - day, debenture worth of THB 500.00 million. The issue date is December 17, 2019 and the maturity date is May 14, 2020. KK20910A is 268 - day, debenture worth of THB 640.00 million. The issue date is December 17, 2019 and the maturity date is September 10, 2020. KK20911A is 269 - day, debenture worth of THB 100.00 million. The issue date is December 17, 2019 and the maturity date is September 11, 2020.

TRIS RATING DOWNGRADES COMPANY & SENIOR UNSECURED DEBT RATINGS ON “DTC” TO “BBB” FROM “BBB+”

TRIS Rating downgrades the company rating on Dusit Thani PLC (DTC) and the rating on DTC’s senior unsecured debentures to “BBB” from “BBB+”. The outlook remains “stable”’

Source : https://www.trisrating.com/files/1115/7656/8507/DTC203-e.pdf

Bill of Exchange of EASY BUY to be registered on December 18, 2019

The Bill of Exchange issued by EASY BUY PUBLIC COMPANY LIMITED to be registered with ThaiBMA on December 18, 2019; consist of According to the company, intent to request for commercial paper registration with Thai Bond Market Association (ThaiBMA) as following details; EB20117A is 30 - day, bill of exchange worth of THB 100.00 million. The issue date is December 18, 2019 and the maturity date is January 17, 2020. EB20117B is 30 - day, bill of exchange worth of THB 700.00 million. The issue date is December 18, 2019 and the maturity date is January 17, 2020.

Debenture of YUANTA to be registered on December 18, 2019

The Debenture issued by YUANTA SECURITIES (THAILAND) COMPANY LIMITED to be registered with ThaiBMA on December 18, 2019; consist of According to the company, intent to request for commercial paper registration with Thai Bond Market Association (ThaiBMA) as following details; YUANTA20618A is 183 - day, debenture worth of THB 390.00 million. The issue date is December 18, 2019 and the maturity date is June 18, 2020. Thai Bond Update, Issue 51/2019, December 20, 2019 5. Market News

WHH20DA has been registered with ThaiBMA on December 19, 2019

WHH20DA is issued by WHA HOLDING COMPANY LIMITED (WHH) has been registered with ThaiBMA on December 19, 2019, details are as follows;

WHH20DA is a WHA HOLDING COMPANY LIMITED debenture with the issue size of THB 335.00 million. It has fixed rate of 4.80% per annum. Interest is payable quarterly. The issue date is December 19, 2019 and the maturity date is December 18, 2020.

Bill of Exchange of MTC to be registered on December 19, 2019

The Bill of Exchange issued by MUANGTHAI CAPITAL PUBLIC COMPANY LIMITED to be registered with ThaiBMA on December 19, 2019; consist of According to the company, intent to request for commercial paper registration with Thai Bond Market Association (ThaiBMA) as following details; MTC20313B is 85 - day, bill of exchange worth of THB 40.00 million. The issue date is December 19, 2019 and the maturity date is March 13, 2020. MTC20619A is 183 - day, bill of exchange worth of THB 40.00 million. The issue date is December 19, 2019 and the maturity date is June 19, 2020.

TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “LPN” AT “A-”

TRIS Rating affirms the company rating on L.P.N. Development PLC (LPN) and the ratings on LPN’s senior unsecured debentures at “A-”. At the same time, we revise the rating outlook on LPN to “negative” from “stable”. The “negative” outlook reflects LPN’s lower-than-expected operating performance resulting from stagnant demand in the residential property market. LPN’s revenues and profitability dropped below our prior expectations while its debt level increased. Thus, its ratio of funds from operations (FFO) to total debt could drop below 10% over the next 2-3 years, lower than our prior projection of 12%-15%

Source : https://www.trisrating.com/files/8415/7672/9706/LPN204-e.pdf

Source : https://www.trisrating.com/files/8415/7672/9706/LPN204-e.pdf Thai Bond Update, Issue 51/2019, December 20, 2019 5. Market News

LIT21DA and LIT22DA has been registered with ThaiBMA on December 19, 2019

LIT21DA and LIT22DA is issued by LEASE IT PUBLIC COMPANY LIMITED (LIT) has been registered with ThaiBMA on December 19, 2019, details are as follows;

LIT21DA is a LEASE IT PUBLIC COMPANY LIMITED debenture with the issue size of THB 520.60 million. It has fixed rate of 5.25% per annum. Interest is payable quarterly. The issue date is December 19, 2019 and the maturity date is December 19, 2021.

LIT22DA is a LEASE IT PUBLIC COMPANY LIMITED debenture with the issue size of THB 393.00 million. It has fixed rate of 5.50% per annum. Interest is payable quarterly. The issue date is December 19, 2019 and the maturity date is December 19, 2022.

GLOBLEX SECURITIES COMPANY LIMITED, is assigned as the bondholder representative. BANK OF AYUDHYA PUBLIC COMPANY LIMITED, is assigned as the registrar. ASIA PLUS SECURITIES COMPANY LIMITED, FINANSIA SYRUS SECURITIES PUBLIC COMPANY LIMITED, GLOBLEX SECURITIES COMPANY LIMITED, KGI SECURITIES (THAILAND) PUBLIC COMPANY LIMITED, are assigned as the underwriter.

Bill of Exchange of JWD to be registered on December 19, 2019

The Bill of Exchange issued by JWD INFOLOGISTICS PUBLIC COMPANY LIMITED to be registered with ThaiBMA on December 19, 2019; consist of According to the company, intent to request for commercial paper registration with Thai Bond Market Association (ThaiBMA) as following details; JWD20319A is 91 - day, bill of exchange worth of THB 200.00 million. The issue date is December 19, 2019 and the maturity date is March 19, 2020.

Debenture of ASK to be registered on December 19, 2019

The Debenture issued by ASIA SERMKIJ LEASING PUBLIC COMPANY LIMITED to be registered with ThaiBMA on December 19, 2019; consist of According to the company, intent to request for commercial paper registration with Thai Bond Market Association (ThaiBMA) as following details; ASK20319D is 91 - day, debenture worth of THB 200.00 million. The issue date is December 19, 2019 and the maturity date is March 19, 2020. ASK20320A is 92 - day, debenture worth of THB 300.00 million. The issue date is December 19, 2019 and the maturity date is March 20, 2020. ASK20618A is 182 - day, debenture worth of THB 150.00 million. The issue date is December 19, 2019 and the maturity date is June 18, 2020.

Bill of Exchange of SIRI to be registered on December 19, 2019

The Bill of Exchange issued by SANSIRI PUBLIC COMPANY LIMITED to be registered with ThaiBMA on December 19, 2019; consist of According to the company, intent to request for commercial paper registration with Thai Bond Market Association (ThaiBMA) as following details; SIRI20618A is 182 - day, bill of exchange worth of THB 50.00 million. The issue date is December 19, 2019 and the maturity date is June 18, 2020. Thai Bond Update, Issue 51/2019, December 20, 2019 5. Market News

TUC22DA, TUC243A and TUC256A has been registered with ThaiBMA on December 19, 2019

TUC22DA, TUC243A and TUC256A is issued by TRUE MOVE H UNIVERSAL COMMUNICATION COMPANY LIMITED (TUC) has been registered with ThaiBMA on December 19, 2019, details are as follows;

TUC22DA is a TRUE MOVE H UNIVERSAL COMMUNICATION COMPANY LIMITED debenture with the issue size of THB 6,772.90 million. It has fixed rate of 3.50% per annum. Interest is payable quarterly. The issue date is December 19, 2019 and the maturity date is December 19, 2022.

TUC243A is a TRUE MOVE H UNIVERSAL COMMUNICATION COMPANY LIMITED debenture with the issue size of THB 4,182.90 million. It has fixed rate of 4.10% per annum. Interest is payable quarterly. The issue date is December 19, 2019 and the maturity date is March 19, 2024.

TUC256A is a TRUE MOVE H UNIVERSAL COMMUNICATION COMPANY LIMITED debenture with the issue size of THB 18,544.20 million. It has fixed rate of 4.70% per annum. Interest is payable quarterly. The issue date is December 19, 2019 and the maturity date is June 19, 2025.

BANK OF AYUDHYA PUBLIC COMPANY LIMITED, is assigned as the bondholder representative. THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED, is assigned as the registrar. BANGKOK BANK PUBLIC COMPANY LIMITED, CIMB THAI BANK PUBLIC COMPANY LIMITED, KASIKORNBANK PUBLIC COMPANY LIMITED, THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED, THANACHART BANK PUBLIC COMPANY LIMITED, are assigned as the underwriter.

TTW272A has been registered with ThaiBMA on December 20, 2019

TTW272A is issued by TTW PUBLIC COMPANY LIMITED (TTW) has been registered with ThaiBMA on December 20, 2019, details are as follows;

TTW272A is a TTW PUBLIC COMPANY LIMITED debenture with the issue size of THB 1,000.00 million. It has fixed rate of 2.41% per annum. Interest is payable semi-annually. The issue date is December 20, 2019 and the maturity date is February 20, 2027.

CIMB THAI BANK PUBLIC COMPANY LIMITED, is assigned as the registrar. BANGKOK BANK PUBLIC COMPANY LIMITED, are assigned as the underwriter.

Bill of Exchange of GOLD to be registered on December 20, 2019

The Bill of Exchange issued by GOLDEN LAND PROPERTY DEVELOPMENT PUBLIC COMPANY LIMITED to be registered with ThaiBMA on December 20, 2019; consist of According to the company, intent to request for commercial paper registration with Thai Bond Market Association (ThaiBMA) as following details; GOLD20618B is 181 - day, bill of exchange worth of THB 1,000.00 million. The issue date is December 20, 2019 and the maturity date is June 18, 2020. Thai Bond Update, Issue 51/2019, December 20, 2019 5. Market News

TRIS RATING AFFIRMS COMPANY RATING ON “GULF” AT “A” AND SENIOR UNSECURED DEBT RATINGS AT “A-”

TRIS Rating affirms the company rating on Gulf Energy Development PLC (GULF) at “A”. At the same time, we affirm the ratings on GULF’s senior unsecured debentures at “A-”. The one notch below the company rating reflects the structural subordination of the outstanding debentures compared with the debt obligations of the operating subsidiaries.

Source : https://www.trisrating.com/files/5815/7682/2219/GULF207-e.pdf

Although care has been exercised in the compilation of this report, the Thai Bond Market Association does not accept liability for any loss,damage, or expense arising from use of this report or its contents.Redistribution of the information without prior written permission from ThaiBMA is prohibited.

The Thai Bond Market Association 900 Tonson Tower 10th Floor, A, D Zone, Ploenchit Road, Lumpini, Pathumwan, Bangkok 1033 Tel. (662) 257-0357 Fax. (662) 257-0355 e-mail: [email protected]