Gulf Development Public Company Limited, Thailand's largest energy development and holding company by market value, has closed a US$600 million offshore syndicated term loan facility.

Gulf’s core business remains anchored in energy, while supporting Thailand’s economic development with infrastructure projects. It has also broadened its footprint in digital infrastructure and telecommunications and satellite sectors to drive sustainable growth.

Beyond Thailand, the company’s international presence has expanded across Asia, North America, and Europe. Supporting European expansion, the recent establishment of Gulf Energy Development Limited ( GUK ), located in the United Kingdom, will serve as a hub for investments, business development, and strategic partnerships. 

Initially launched in May 2026 at US$400 million, the debt facility comprising three-year and five-year tranches brought together 33 banks and garnered peak demand of approximately four times its initial size, enabling Gulf to exercise its greenshoe option and upsize the transaction by US$200 million.

DBS Bank, Mizuho Bank, MUFG Bank, Natixis, Sumitomo Mitsui Banking Corporation and United Overseas Bank acted as mandated lead arrangers, underwriters, and bookrunners, as well as coordinators for the facility. Mizuho Bank acted as the facility agent.

The facility attracted participation from a diverse group of international financial institutions across Japan, Taiwan, Singapore, China, Hong Kong, the Philippines, India, Macau, and France, supported by Gulf’s longstanding relationships with Japanese and Chinese partners, suppliers, and EPC contractors across its projects.

“The successful completion of this facility represents an important milestone in Gulf’s funding strategy, expanding our access to international markets and further diversifying our sources of financing,” says Gulf Group chief financial officer Yupapin Wangviwat.

“The transaction strengthens the company‘s relationships with existing banking partners, establishes new partnerships with international lenders, and enhances its financial flexibility by providing an additional funding source beyond the domestic Thai baht bond market.”

Gulf has an “A” credit rating with a stable outlook from Japan Credit Rating Agency, equivalent to Thailand’s sovereign rating.