With the commitment, True assures all that it is financially strong enough to offer 4G services in the 900MHz spectrum.

The six banks are Industrial and Commercial Bank of China (Thai), Bangkok Bank, Kasikornbank, Siam Commercial Bank, Krungthai Bank and Kiatnakin Bank. ICBC (Thai) provides nearly half of the amount. The letters will be submitted with TUC’s first payment of Bt8 billion to the National Broadcasting and Telecommunication Commission (NBTC) for the 900-MHz licence it won from the auction in December last year.

“Their joint support will enable True Group to officially own and operate the frequency to the fullest of its capacity in order to more effectively meet market demand and strengthen Thailand’s telecommunications infrastructure with its world-class quality 4G services…This is another key milestone for True Group to maintain its leadership in wireless broadband Internet, strengthen its business operations and further support its mobile business, which experienced outstanding growth last year,” said Suphachai Chearavanont, president and chief executive officer of True Group.