Ananda Development Public Company Limited has set the coupon rate for its debentures with a tenor of 1 year 6 months at 4.40% per annum and the 2 years 6 months tenor at 5.20% per annum, to be offered to general investors and institutional investors through 6 financial institutions during August 5-6 and 9-10 of this month.
The company believes investors are confident in its opportunities and growth potential as the market leader in transit-oriented condominiums.Meanwhile, its financial structure, including cash liquidity management and maintaining the net interest-bearing debt to equity ratio within target, reflects the strength of the business.
Mr. Sermsin Kwanyuang, Chief Financial Officer of Ananda Development Public Company Limited, or ANAN, a leader in urban residential development and the market leader in transit-connected condominiums, revealed that after the company filed for the offering of debentures to general investors and institutional investors in 2 tranches:
Most recently, the company has set the debenture yields as follows: debentures with a tenor of 1 year 6 months at an interest rate of 4.40% per annum, and debentures with a tenor of 2 years 6 months at an interest rate of 5.20% per annum, with interest paid every 3 months. They will be offered during August 5-6 and 9-10 of this month through 6 debenture placement agents, namely Krungthai Bank Public Company Limited, Kasikornbank Public Company Limited, CIMB Thai Bank Public Company Limited, Asia Plus Securities Company Limited, Krungthai Zmico Securities Company Limited, and Globlex Securities Company Limited.
The debentures received a credit rating from TRIS Rating Co., Ltd. on June 10, 2021 at investment grade level of BBB-, the same as the company’s corporate credit rating, with a “Stable” outlook. “We are pleased that our debentures continue to attract interest from investors, with a large number of inquiries about subscription details coming in.
It must be acknowledged that one supporting factor comes from previous debenture fundraising exercises that met investors’ needs, which is why investors have consistently supported us. In addition, investors remain confident in the company’s potential as the market leader in condominiums along electric rail lines, which remain in demand with strong purchasing power.
They also trust our management, both in terms of financial structure, such as maintaining cash liquidity and keeping the net interest-bearing debt to equity ratio under the long-term target of 1:1, which greatly reinforces the company’s financial strength, as well as the management of joint venture projects, etc.” said Mr. Sermsin.
In this regard, Ananda Development Public Company Limited operates a real estate development business, including condominium projects, housing estate projects and townhouses in Bangkok and its metropolitan area. Its condominium projects under the brands Ashton, ideQ, Vicio, ideMobi, ide Elio, and Unio focus on connectivity with electric train stations to create convenience in residents’ daily lives.
As for housing estate and townhouse projects developed under the brands Artel, Aeri, Aetola, Arden, Urbanio, and Unio Town, these emphasize distinctive, unique concepts and architectural design that meet the needs of each customer group. In the first quarter of 2021, the company overcame the COVID-19 pandemic crisis by recording project transfer receipts totaling 3,059 million baht
and total sales of 3,979 million baht, 17% above the set target of 3,393 million baht, while the proportion of transfers from foreign customers remained close to the previous year at 21%. Furthermore, in the second quarter of 2021, the company achieved total sales of 3,264 million baht, exceeding the target by another 17%, with signs of recovery expected in the second half of the year as more people gradually receive vaccinations.
Regarding subscriptions for Ananda debentures under the current COVID-19 outbreak situation, additional subscription channels have been made available to facilitate general retail investors, who can subscribe to both tranches of debentures through online systems or mobile phone applications, or subscribe via recorded telephone lines without having to travel to a branch or sales unit of the lead managers of the said debenture offering (subject to the conditions of each lead manager). Interested investors can inquire for more details from all 6 lead managers starting today.
Investors may subscribe with a minimum of 100,000 baht and in multiples of 100,000 baht. Further details can be found at www.sec.or.th or by contacting the 6 financial institutions.
