MCOT’s Boards Approve Long-Term Loan of ฿695Mn from KBANK to Commit Separation Plan
MCOT’s Boards Approve Long-Term Loan of ฿695Mn from KBANK to Commit Separation Plan 
MCOT’s Boards Approve Long-Term Loan of ฿695Mn from KBANK to Commit Separation Plan
25 พ.ย. 2563

Mcot Public Company Limited (MCOT) announced the Meeting of the Board of Directors held on November 24, 2020 has resolutions to approve the Company’s application for a significant financial loan from Kasikornbank Public Company Limited (KBANK) in the amount of 695.92 million Baht with the interest rate of MLR-2.57% per year throughout the loan period.
 
The purpose of the loan is for undertaking the 2020 employee separation plan. Loan period is not more than 6 years and 9 months or 81 installments with full repayment within August 2027. Meanwhile the repayment is divided into 3 installments in addition to interest payment at the end of each month:
1st principal repayment of 254,884,308.90 Baht in August, 2025
2nd principal repayment of 254,884,308.90 Baht in August, 2026
3rd principal repayment of 186,149,152.47 Baht in August, 2027
 
For the effect on financial status, MCOT will have increased liabilities of 695.92 million Baht, consisting of special remuneration of 431.67 million Baht (recorded as expenses in the income statement) and severance pay in accordance with the announcement of the Labour Relations Commission in the amount of 264.25 million Baht (deducted from non-current provisions for employee benefit in the income statement), to be recorded in Q4-2020 (as of September 30, 2020, D/E ratio =0.86 times).