Notes to the Financial Statements PTT Global Chemical Public Company Limited and its Subsidiaries Notes to the financial statements For the year ended 31 December 2023 38 The Company has an unsecured long-term lending agreement for the period of 10 years with a related party with a credit facility of USD 994.09 million. This loan bears interest at a fixed rate. The Company has an unsecured long-term lending agreement for the period of 30 years with a related party with a credit facility of USD 298.28 million. This loan bears interest at a fixed rate. The Company has an unsecured long-term lending agreement for the period of 7 years with a related party with a credit facility of USD 100 million. This facility bears interest based on market rate referenced to SOFR plus interest rate spread. The Company has an uncommitted and unsecured short-term Inter-Company Borrowing & Lending agreement (ICBL) for the period of 1 year with a parent company with the borrowing credit facility of Baht 10,000 million and lending credit facility of Baht 3,500 million. The agreement expired on 19 December 2023 and has been extended for an additional period until 19 December 2024. This facility bears interest based on market rate referenced to BIBOR or SOFR plus interest rate plus the interest rate difference depending on the loan currency or other appropriate interest rates as determined by the lender if changes in market conditions spread by taking into account the return on short-term investment, shortterm interest rate and the credit ratings of the Company or the borrowing company. The Company has an uncommitted and unsecured short-term Inter-Company Borrowing & Lending agreement (ICBL) for the period of 3 years with a related party with a borrowing credit facility of Baht 300 million and a lending credit facility of Baht 300 million. The agreement will expire on 20 February 2025. This facility bears interest based on market rates referenced to BIBOR or SOFR plus interest rate spread by taking into account the return on short-term investment, short-term interest rate and the credit ratings of the Company or the borrowing company. The Company has an uncommitted and unsecured short-term Inter-Company Borrowing & Lending agreement (ICBL) for the period of 1 year with a related party with a borrowing credit facility of Baht 250 million and a lending credit facility of Baht 1,000 million. The agreement will expire on 30 May 2024. This facility bears interest based on market rates referenced to BIBOR or other appropriate interest rates as determined by the lender if changes in market conditions spread by taking into account the return on short-term investment, short-term interest rate and the credit ratings of the Company or the borrowing company. The Company has an uncommitted and unsecured short-term Inter-Company Borrowing & Lending agreement (ICBL) for the period of 3 years with a related party with a borrowing and lending credit facility of EUR 100 million (or equivalent to USD). The agreement will expire on 17 September 2026. This facility bears interest based on market rates spread by taking into account the return on short-term investment, short-term interest rate and the credit ratings of the Company or the borrowing company. Service Agreements The Company has Shared Service agreements with 27 related parties for the provision of general services. All of these agreements are effective from the date as specified in the agreements and the service charges will be agreed in the fourth quarter of each preceding year. The Company has Management and Engineering agreement, Design, Supply, Construction and Installation agreement, Inspection of Construction, Equipment and Machinery agreement and Management and Maintenance Work agreement with a related party. These agreements are for the periods from 2 year 3 months to 2 years 7 months, commencing from the date as specified in the agreements and expiring from March 2024 to December 2025. 282
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