O N E R E P O R T 2 0 2 2 OVERVIEW BUSINESS OVERVIEW AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL INFORMATION SUSTAINABLE BUSINESS DEVELOPMENT 42 2. Thai AirAsia’s non-convertible debentures comprise unsubordinated, secured and unsecured ones in Baht currency with fixed interest rates as follows: Debentures Outstanding Amount (Baht million) Issuance Date Maturity Date Interest Rate (% p.a.) Term of Interest Payment Credit Rating No. 1/2021 Series 1 (Unsecured) 0 (Redeemed Baht 600 million in 2022) 19 May 2017 19 May 2022 3.28 Semi-Annual - No. 1/2018 Series 1 (Unsecured) 0 (Redeemed Baht 600 million in 2022) 26 June 2018 26 Apr 2022 6.75 Semi-Annual BB- (1) No. 1/2018 Series 2 (Unsecured) 1,000.00 26 June 2018 26 June 2023 2.95 Semi-Annual BB- (1) No. 1/2017 Series 2 (Unsecured) 0 (Redeemed Baht 600 million in 2022) 6 Oct 2021 6 Apr 2022 3.28 Semi-Annual BB- (1) No. 1/2022 (Secured and callable by issuer) 1,431.50 30 June 2022 30 June 2024 6.80 Quarterly - No. 2/2022 (Secured) 750.00 30 Sep 2022 30 Sep 2023 6.00 Quarterly - Total 3,181.5 Remark: (1) Debentures were rated as credible from Tris Rating Co., Ltd (As of 8 March 2022) DIVIDEND POLICY The Board of Directors of Asia Aviation may recommend annual dividends subject to the approval of the shareholders’ meeting. For interim dividends, the Board of Directors is authorised for such approval, considering the profitability of the Company, which will be reported to the next Shareholders’ Meeting. Asia Aviation Public Company Limited Asia Aviation may consider paying dividends by taking into account the performance, liquidity, current cash flow and financial status; the provisions and conditions regarding dividend payment as provided in the loan agreements, debentures or any related contracts that Asia Aviation are obliged to comply with; future business plans and capital requirement for investment; as well as other factors as deemed appropriate by the Board of Directors. In 2022, Asia Aviation did not pay dividends to Shareholders. Thai AirAsia Company Limited Thai AirAsia may consider paying dividends by taking into account the performance, liquidity, current cash flow and financial status; the provisions and conditions regarding dividend payment as provided in the loan agreements, debentures or any related contracts that Thai AirAsia are obliged to comply with; future business plans and capital requirement for investment; as well as other factors as deemed appropriate by the Board of Directors. In 2022, Thai AirAsia did not pay dividends to Shareholders.
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