Ananda Development Public Company Limited is preparing to issue and offer two series of bonds to general investors, with a duration of 1 year, 2 months, and 12 days at an interest rate of [4.30-4.50]% per year, and a duration of 2 years and 6 months at an interest rate of [5.50-5.70]% per year, with interest payments every 3 months. The subscription period is expected to be from late October to early November 2022. The bonds have been rated as investment-grade by Tris Rating at BBB-, and seven financial institutions have been appointed as underwriters. The real estate business is showing clear signs of recovery in line with the overall economy, reflected by sales in the second quarter exceeding 3.9 billion baht, nearly 80% higher than the first quarter, while transfers increased by 148% from the first quarter, with plans to launch six new projects valued at over 21 billion baht in the second half of the year.

Mr. Chanont Ruangkritya, CEO of Ananda Development Public Company Limited (ANAN), revealed that the company has submitted information to offer bonds to general investors to the Securities and Exchange Commission (SEC). These are named bonds, non-subordinated, and unsecured, with two series: one with a duration of 1 year, 2 months, and 12 days at an interest rate of [4.30-4.50%] per year, and another with a duration of 2 years and 6 months at an interest rate of [5.50-5.70%] per year. The exact interest rates will be announced later, with interest payments every 3 months. The bonds received a credit rating from Tris Rating on September 23, 2022, at the level of 'BBB-' with a 'Stable' outlook.

Additionally, the company has appointed seven financial institutions as underwriters for the bond issuance, including Krung Thai Bank Public Company Limited, Kasikorn Bank Public Company Limited, CIMB Thai Bank Public Company Limited, Asia Plus Securities Company Limited, Krung Thai Xspring Securities Company Limited, Dao (Thailand) Securities Public Company Limited, and Yuanta Securities (Thailand) Company Limited. The bonds are expected to be offered on October 31 and November 1-2, 2022.

ANAN operates in real estate development, focusing on condominium projects, single houses, and townhomes in Bangkok and its vicinity. The condominium projects emphasize locations near BTS stations to enhance residents' convenience, while the single houses and townhomes focus on unique architectural design that meets the needs of various customer segments. In the second quarter of this year (April-June 2022), the company achieved sales of over 3.9 billion baht, nearly 80% higher than the first quarter, with transfers exceeding the first quarter by 148%, or 3.5 billion baht, and a backlog of over 12 billion baht, reflecting the recovery of the overall economy that positively influences consumers' confidence in purchasing real estate.

"We believe that investors will show interest in investing in our bonds as they have in the past, especially as the real estate business becomes more vibrant. This is evident from the ongoing project launches and the marketing plans for various projects, including Ananda, which plans to market six new projects worth over 21 billion baht in the second half of the year. The improving trend aligns with the overall Thai economy, which is continuously recovering. Moreover, current government measures are facilitating consumers' decisions to purchase real estate, and we are confident that this positive trend will continue, further enhancing growth opportunities for the company and increasing the attractiveness of our bonds as an investment option at this time," Mr. Chanont stated.

Recently, the company has successfully issued and offered bonds to general investors continuously, creating investment opportunities with acceptable risks and satisfactory returns, reflecting investors' confidence in growing alongside the company with a strong financial position and a suitable investment structure for business expansion according to the established strategy. At the same time, the company's projects continue to receive ongoing support from leading international partners collaborating on various projects, including financial institutions that have consistently supported the company.

Regarding the case of the Ashton Asoke project, it is a lawsuit between the plaintiff and a government agency, and Ananda MF Asia Asoke Co., Ltd. (the "joint venture"), which is a joint venture between Ananda and Mitsui Fudosan, is not the defendant. The joint venture is in the position of a "third-party intervenor" in this case.

 

On September 20, 2022, the Supreme Administrative Court considered the Ashton Asoke project case for the first time, and the presiding judge expressed the opinion that the issuance of the operating license was lawful and recommended overturning the Central Administrative Court's ruling (the first instance) to dismiss all cases against the defendant. However, the presiding judge's opinion is independent, and we must wait for the ruling from the judge responsible for the case.

 

General public interested in investing in Ananda's bonds can inquire for more details from the seven bond distribution managers starting today as follows:

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

Kasikorn Bank Public Company Limited, Tel. 02-888-8888 ext. 819, individuals can subscribe online at https://www.kasikornbank.com/kmyinvest (except for foreign nationals 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 Company Limited, Tel. 02-680-4004

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

Dao (Thailand) Securities Public Company Limited, Tel. 02-351-1800 press 1

Yuanta Securities (Thailand) Company Limited, Tel. 02-009-8351-56