GULF Honored with “Issuer of the Year” Award at ThaiBMA Best Bond Awards 2025 Reflecting the capabilities and strength within the Thai bond market

Gulf Development Public Company Limited (GULF), led by Ms. Yupapin Wangviwat (left), Chief Financial Officer, received the “Issuer of the Year” Award at the ThaiBMA Best Bond Awards 2025, organized by the Thai Bond Market Association. This award reflects GULF’s exceptional role in contributing to the enhancement of fundraising standards in the country’s bond market. The award was presented by Mr. Paiboon Dumrongwaree (right), Assistant Secretary-General of the Securities and Exchange Commission (SEC), at the Siam Kempinski Hotel Bangkok.

Ms. Yupapin Wangviwat, Chief Financial Officer, GULF, stated: “On behalf of GULF, we would like to thank ThaiBMA for this prestigious award, which is a source of pride and significant encouragement for our entire team. Throughout the years, GULF has consistently prioritized fundraising through the debt capital market, with a total debenture issuance value of over THB 250,000 million offered to institutional and retail investors. We believe that the debt market is not just a source of funds, but a key mechanism that effectively enhances the company’s financing options, diversifies the investor base, helps manage risks related to funding sources, and reduces the Single Lending Limit (SLL) constraints with financial institutions. We owe this success to the financial institutions serving as Joint Lead Arrangers who have consistently supported our debenture issuances. We also thank all investors for the trust they have placed in the company over the past 7 years, since our very first debenture issuance.”

“GULF remains committed to rigorous financial discipline, prudent capital structure, and robust liquidity management, all while upholding the highest standards of corporate governance and transparent communication. Proceeds from our debenture issuance will fund investments in high-potential infrastructure and energy projects, aimed at delivering sustainable returns and driving the nation’s long-term economic growth. We deeply value the trust of our investors and financial partners and look forward to their continued support in our future endeavors.” Ms. Yupapin concluded.

As of February 12, 2026, TRIS Rating Co., Ltd. reaffirmed GULF’s corporate rating and debentures at ‘AA-’ with a ‘Stable’ outlook, underscoring the company’s strong performance, stable cash flow, and sustained growth from both domestic and international investments.

The ThaiBMA Best Bond Awards are held annually to honor organizations and individuals who display excellence in the debt securities market. Winners are selected based on a rigorous evaluation of performance, market statistics, and votes from market participants, all aimed at fostering sustainable growth within the industry.