News Detail

Date/Time
06 Aug 2020 18:19:00
Headline
Money Guarantee according to the resolution of the Board of Directors Meeting No. 2/2020 on Thursday 9 April 2020.
Symbol
SE-ED
Source
SE-ED
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                Translation-
No.  IR018/2020
August 6, 2020

Subject:    Money Guarantee according to the resolution of the Board of Directors 
Meeting No. 2/2020
    on Thursday 9 April 2020.
To:    President
    The Stock Exchange of Thailand

According to the announcement of the Board of Directors' Meeting of SE-EDUCATION
Public Company Limited No. 2/2020 on Thursday 9 April 2020, the approval of
financial assistance from financial institutions was approved. The loan is
intended to be used to repay short-term loans and to strengthen the Company.

Total credit line of 100 million baht can be summarized as follows:
Long-term loan
Parties        :    Loaner  :  Kasikorn Bank Public Company Limited
                Borrower     :  SE-EDUCATION Public Company Limited
Limit             :    Not more than 100,000,000.00 baht
Objective        :    Repaying short-term loans and enhancing the company's liquidity.
Interest rate        :    THBFIX plus interest rate of 2.56 percent (two point five six).
Term of credit limit    :    Within 6 (six) months from the contract date
Important loan conditions    :    
-    The borrower agrees to maintain the Debt Service Coverage Ratio (DSCR) by 
calculating EBITDA: Earnings Before Interest, Tax, Depreciation and Amortization
divided by the portion of long-term liabilities (CPLTD: Current Portion of Long
Term Debt) includes interest payments for both long-term and short-term loans
at a ratio of not less than 1.0 (one point zero) times.
-    The borrower agrees to maintain the Gearing Ratio by calculating from all 
liabilities in the financial statements with interest or discounted obligations
and divided by the shareholders' equity not more than 0.5 (zero point  five)
times, but the Gearing Ratio must not be less than 0 (zero).
Repayments        :    The borrower agrees to pay the principal installment of the loan 
received from the bank in 48 (forty-eight) installments by repaying of 1 (one)
month per installment. The borrower will start repaying the first payment on the
last business day of the 13th month (Thirteenth) from the first loan withdrawal
month. The next installments are payable on the last business day of the month
due within business hours at the bank's office. And the borrower will pay the
principal plus interest in 60 (sixty) months from the month of the loan
withdrawal. The payment terms are as follows:
-    From the first month to the 12th (twelfth) month, the borrower agrees to pay 
670,000.00 baht (six hundred thousand baht) per one instalment.
-    From the 13th (thirteenth) month to the 40th (fortieth) month, the borrower 
agrees to pay 2,080,000.00 baht (two million baht) per one instalment.
-    From the 41th (forty-first) month to the 47th (forty-seventh) month, the 
borrower agrees to pay 4,200,000.00 (four million two hundred thousand baht) per
 one installment.
-    From the 48th (forty-eighth) month (the last instalment), the borrower will 
pay the remaining amount and interest.
 Collateral         :    Land Deed no. 17749,  Srisa Jorakhaeyai Sub district,
                Bang Sao Thong District, Samut Prakan Province, owned by
                SE-Education Company Limited, the second mortgage.

Please be informed accordingly.




Yours sincerely,

(Mr. Rungkan Paisitpanichtrakul)
Deputy Managing Director and Company Secretary




INVESTOR RELATION
http://www.se-ed.com/ir
IR@SE-ED.COM
02-826-8000 # 8
______________________________________________________________________
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