Page 190 - E-BOOK

Transaction value (million baht)
Related person/ Year ending as of Year ending as of Opinions of the audit
juristic person Relationship Transaction 31 Dec 2019 31 Dec 2020 Necessity and Rationale committee

3. Krungthai AXA Life Insurance • The company and Krungthai Bank Public 3.1 Debenture – related transaction • The company offered debentures to • Such transaction was a financially
Public company Limited Company Limited have a common major • Debenture institutional investors and/or major aided transaction of the Company.
shareholder which is the Financial Institution - Beginning 531.7 749.2 investors to manage liquidity of the The offer price and interest rate of
Development Fund (Development Fund). - Increase 720.0 1,528.0 Company. It is unsecured, non- the debentures was the same offer
As of 31 December 2020, the Development - Decrease (502.5) (52.7) subordinated debenture with price and interest rate as the
Fund held 45.8% shares in the company - End 749.2 2,224.5 identification of holder’s name and Company did with other subscribers
and indirectly held shares in Krungthai-AXA • Interest payable 13.1 58.1 without an agent of the holders. The who were third parties.
Life Insurance Public Company Limited for • Accrued interest payable 2.3 16.6 debenture issuer has the right to • The audit committee considered it
27.5% (The Development Fund holds shares redeem debentures before falling and realized that such transaction
in Krungthai Bank Public Company Limited due. (depending on each serie of was suitable and reasonable.
debenture)
for 55.1% and Krungthai Bank Public company • As of 31 December 2020, Krungthai-
188 | Annual Report 2020 Insurance Public company Limited for AXA Life Insurance Public Company
Limited holds shares in Krungthai-AXA Life

Limited held debentures for
50.0%.)
2,224,500 units with par value of
1,000 Baht
No. 2/2017 on 08 September 2017

- 5 serie, 10-year term, with
th
Maturity Date on 08 September
2027, and fixed interest rate at
3.91% per year, for 120,000
units.
 No. 1/2018 on 21 June 2018
- 2 serie, 3-year term, with
nd
Maturity Date on 21 June 2021
and fixed interest rate at 2.50%
per year for 20,000 units.
- 3 serie, 7-year term, with
rd
Maturity Date on 21 June 2025,
and fixed interest rate at 3.88%
per year, for 100,000 units
- 4 serie, 10-year term, with
th
Maturity Date on 21 June 2028,
and fixed interest rate at 4.30%
per year, for 500,000 units