‘Ananda’ delighted as Hybrid Bond receives overwhelming response, reserve tranche released for sale
Total value of 2 tranches, raising 2,000 million baht
Ananda Development PCL is delighted that its subordinated unsecured and perpetual debentures, or HYBRID BOND, received a better-than-expected response. CIMB Thai Bank, as the sales agent, revealed it had to release an additional reserved portion of 500 million baht for sale, bringing the total funds raised to 2,000 million baht.
Ananda's past performance combined with investor confidence in the company's growth are key factors attracting investors seeking long-term investment returns, while Ananda's management is ready to move forward with business expansion as planned.
Mr. Chanon Ruangkrittaya, Chief Executive Officer and Managing Director of Ananda Development Public Company Limited (ANAN), the leader in condominiums alongside electric train routes, revealed that after closing the offering of subordinated perpetual debentures or HYBRID BOND, the response from investors exceeded expectations.
The company was able to raise a combined total of 2,000 million baht through the hybrid bonds. On behalf of the company, we would like to thank all investors for their support and confidence in the company's growth potential. Going forward, the company will proceed with business expansion according to its planned projects.
These debentures are subordinated perpetual debentures (HYBRID BOND), which are registered-name subordinated perpetual debentures with principal repaid in a single lump sum, redeemable only upon dissolution of the company or when the issuer exercises its right to redeem the debentures early under the conditions specified in the terms and conditions. They are unsecured, non-convertible, and have a debentureholders' representative.
The issuer has the right to redeem the debentures before maturity, as well as the right to defer interest payments, with accrued interest payable on any date, without limitation on duration or frequency, at the sole discretion of the issuer. The debentures were offered to institutional investors and major investors.
Meanwhile, Mr. Kittiphun Anutasothi, Managing Director and Chief Executive Officer of CIMB Thai Bank Public Company Limited, as the lead manager of this HYBRID BOND offering, stated that the key factors supporting the success of Ananda's debentures with an oversubscribed order book came from Ananda's past performance combined with confidence in its continued growth. Ananda
is a key factor attracting investors seeking long-term investment returns. At the same time, it must be acknowledged that the availability of a secondary market for trading the debentures, supporting investors who wish to redeem them before maturity, with transactions executable through CIMB Thai Bank, is another factor supporting investors' decision-making.
“CIMB Thai Bank is extremely proud to have contributed to the successful sale of ANANDA PLC's HYBRID BOND debentures, and is greatly pleased to be a part of presenting investment instruments that deliver satisfying returns to the bank's clients” Mr. Kittipan said.
