Ananda Achieves Success in Selling Subordinated Bonds

Sold subordinated bonds resembling equity worth 1,000 million baht

Reflecting investor confidence

 

ANANDA Development Public Company Limited (ANAN) has successfully sold subordinated bonds resembling equity (Perpetual Bond) in full amount of 1,000 million baht, reinforcing investor confidence in the company's fundamentals and financial status, as well as its strong business poised for long-term growth.

 

Dr. Chaiyut Chunhachak, Chief Financial Officer of ANANDA Development Public Company Limited, stated that the success of this bond issuance is thanks to all investors who supported it. The company offered subordinated bonds resembling equity (Perpetual Bond) worth 1,000 million baht with a return of 9.5% for the first five years, which were offered to institutional and major investors from August 14, 17-18, 2020. The full subscription reflects strong confidence in the company. Additionally, the company has prepared business plans in all forms to adapt to rapidly changing situations and is ready for sustainable long-term growth. The funds raised from this bond issuance will be used to redeem the first series of subordinated bonds resembling equity issued in 2015 in August 2020. The company also thanks five financial institutions: Krung Thai Bank, Kasikorn Bank, Siam Commercial Bank, CIMB Thai Bank, and Krung Thai Securities for managing this bond sale.

 

“The issuance and sale of bonds by Ananda to investors at this time is a timely opportunity as the market conditions are becoming more favorable, and interest rates or investment returns are currently low. Investors are still seeking investment opportunities in companies with stable financial positions, which has led to a positive response to Ananda's bonds,” he added.

 

Furthermore, the sales and transfer figures for Q2 2020 recently announced have boosted investor confidence in the company, with sales amounting to 4,918 million baht, exceeding the target by 28% and growing 13% from the previous quarter. The transfer figures reached 3,767 million baht, surpassing the target by 15% and growing 7% from the previous quarter. In Q3 2020, the company also has five newly completed condominium projects ready for transfer, which will contribute additional revenue, helping to achieve the transfer targets set for 2020, including the Ashton Asoke-Rama 9 project, Ideo Q Sukhumvit 36, Ideo Mobi Sukhumvit East Point, and Ideo Ratchada-Sutthisan. Meanwhile, the Elio Sathorn-Wutthakat project has been completed and will begin transfers earlier than scheduled, moving from Q4 to Q3, with all five projects having a combined project value of over 21,000 million baht.