Noble Prepares to Issue and Offer Bonds for the First Time in 2021 to General and Institutional Investors

Unveiling Business Plans to Become a Market Leader in Real Estate Aiming for Top 5 in 3 Years

Expected to Open for Sale from February 22-24

 

January 26, 2021: Noble Development Public Company Limited (NOBLE) has submitted a registration statement to request permission to issue and offer bonds that are unsubordinated, unsecured, and have a representative for bondholders to general and institutional investors to the Securities and Exchange Commission (SEC). This bond issue consists of 1 series with a term of 3 years and an interest rate of 4.50% per annum. The company received a credit rating from TRIS Rating Co., Ltd. on December 21, 2020, at the level of "BBB" with a "Stable" outlook. The bonds have also been rated "BBB-". The underwriters for this bond issuance include Krung Thai Bank, Kasikorn Bank, CIMB Thai Bank, Asia Plus Securities, Finansa Securities, KTBST Securities, and Krung Thai Semeco Securities. The proceeds will be used to repay bonds maturing in February 2021.

Mr. Arttavit Chalermthaprasert, Director and Chief Financial Officer, stated that NOBLE has submitted a registration statement to request permission to issue and offer a new series of bonds to the SEC. NOBLE is preparing to issue and offer unsubordinated, unsecured bonds with a representative for bondholders to general and institutional investors for a term of 3 years, paying interest every 3 months, with a minimum subscription of 100,000 baht and multiples of 100,000 baht thereafter, at an interest rate of 4.50% per annum. The purpose of this bond issuance is to repay existing bonds maturing in February 2021. The company received a credit rating from TRIS Rating Co., Ltd. on December 21, 2020, at the level of "BBB" with a "Stable" outlook, and the bonds have been rated "BBB-". It is expected that subscriptions and the distribution of the prospectus will be available from February 22-24, 2021.

Mr. Arttavit further stated that the company is confident it will achieve full-year revenue for 2020 exceeding 10 billion baht as targeted. In the first 9 months of 2020, the company reported total revenue of 7,412 million baht, net profit of 1,238 million baht, and cash of 2,653 million baht. The ratio of net interest-bearing debt to equity stands at 1.28 times, down from 1.58 times at the end of 2019. The company has been minimally affected by the economic downturn due to the COVID-19 pandemic, as its residential projects are well-received in the market. The strength of NOBLE is also reflected in its credit rating of "BBB" with a "Stable" outlook, reinforcing the company's status as a leading real estate developer in Thailand. As of the third quarter of 2020, the company had a backlog of approximately 15 billion baht, which will be recognized over the next 2-3 years, and has ready-to-sell inventory, including ongoing construction projects, valued at approximately 14 billion baht, with about 4.5 billion baht ready for transfer, supporting continuous revenue recognition.

In 2021, the company plans to launch 11 new projects worth over 45.1 billion baht, divided into high-rise projects worth 25 billion baht and low-rise projects worth 20.1 billion baht, paving the way to become a leading real estate developer in Thailand, aiming to be in the top 5 within the next 3 years. The revenue target for 2021 is approximately 11 billion baht, with sales expected to reach around 16 billion baht. The company is confident that its customer base, both Thai and foreign, has strong purchasing power and has a new partnership with U City Public Company Limited, part of BTS Group Holdings Public Company Limited, planning to launch 5 joint projects in 2021 on Suk Sawat Road, Kukot Road, Rama 9 Road, and Ekkamai-Ramintra Road.

For investors seeking more information about the bond offering from NOBLE, details can be found at www.sec.or.th or https://investor.noblehome.com, and can contact the following financial institutions:

Krung Thai Bank Public Company Limited, Tel. 02-111-1111

Kasikorn Bank Public Company Limited, Tel. 02-888-8888, press 819

CIMB Thai Bank Public Company Limited, Tel. 02-626-7777

Asia Plus Securities Co., Ltd., Tel. 02-680-4004

Finansa Securities Public Company Limited, Tel. 02-658-9500

KTBST Securities Public Company Limited, Tel. 02-648-1111

Krung Thai Semeco Securities Public Company Limited, Tel. 02-695-5000

Noble Development Public Company Limited, Tel. 02-251-9955 ext. 1415