Noble Development Public Company Limited (NOBLE) is set to offer a new series of unsecured bonds with a maturity of 3 years and an interest rate of 4.60% per annum. The bonds will be available for subscription from June 13-15, 2022. The company and the bonds have been rated 'BBB' with a 'Stable' outlook by Tris Rating Co., Ltd. on May 23, 2022. The bond issuance will be managed by Krung Thai Bank, Kasikorn Bank, CIMB Thai Bank, Asia Plus Securities, and Krung Thai Xspring Securities. The proceeds will be used to repay bonds maturing in June.

Mr. Atthawit Chalermphakdee, Director and Chief Financial Officer of Noble Development Public Company Limited, revealed that NOBLE is preparing to issue a new series of bonds aimed at both retail and institutional investors. The bonds will have a 3-year maturity, an interest rate of 4.60% per annum, with interest paid every 3 months. The minimum subscription amount is 100,000 baht, and increments of 100,000 baht thereafter. The purpose of this bond issuance is to raise 1.5 billion baht to repay maturing bonds. The company and the bonds have received a 'BBB' rating from Tris Rating Co., Ltd. on May 23, 2022, indicating an investment-grade status.

Noble's performance in the first quarter of 2022 saw sales exceeding 6.4 billion baht, a 150% increase compared to the same period last year and a 155% increase from the fourth quarter of 2021. This marks a new quarterly sales record for the company, nearly matching the total sales of 8.035 billion baht achieved in 2021. The sales in Q1 2022 were driven by ongoing projects from 2021, along with the launch of 5 new projects worth over 15 billion baht, including Nue District R9, Nue Mega Plus Bangna, Nue Z-Square Suan Luang Station, Nue Evo Ari, and Nue Connex Condo Don Mueang, all of which received positive responses with average sales of 40%-50% across the projects.

In Q2 2022, the company plans to launch 4 new projects valued at over 8.7 billion baht, with an additional 9 projects worth over 24 billion baht planned for the second half of the year. This will allow the company to meet its target of launching 18 new projects worth approximately 47.7 billion baht throughout the year, with a diverse range of products covering all areas of Bangkok.

In the first quarter of 2022, the company reported total revenue of 1.496 billion baht, a 44% decrease from the same period last year, primarily due to the absence of new completed projects ready for transfer compared to Q1 2021. The revenue for Q1 2022 came from 4 main projects: Noble B19 Sukhumvit, Nue Chaeng Watthana, Nue Connex House Don Mueang, and Noble Cable Watcharapol, which were all ongoing projects from late 2021.

As of Q1 2022, the company had a backlog of approximately 15.4 billion baht, an increase from 10 billion baht at the end of 2021. This backlog is expected to be recognized as revenue in the remaining months of this year and over the next 2-3 years. The company is confident that it will achieve revenue growth in 2022 compared to 2021 and anticipates revenue of 15 billion baht in 2023. Additionally, the company plans to launch new horizontal projects that will allow for quicker revenue recognition.

For investors seeking more information about NOBLE's bond offering, details can be found at www.sec.or.th or https://investor.noblehome.com. They can also 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 for online subscriptions (except for foreign individuals and legal entities, who can subscribe through the head office and branches)
CIMB Thai Bank Public Company Limited, Tel: 02-626-7777
Asia Plus Securities Co., Ltd., Tel: 02-680-4004
Krung Thai Xspring Securities Co., Ltd., Tel: 02-695-5000
Noble Development Public Company Limited, Tel: 02-251-9955 ext. 1415