Noble Development Public Company Limited (NOBLE) is set to offer new 3-year bonds with interest rates ranging from 4.60% to 4.80% per annum. The subscription is expected to take place from April 3-5, 2023. The company and the bonds have been rated by Tris Rating Company Limited on February 3, 2023, at a level of “BBB” with a “Stable” outlook. The company has appointed Krung Thai Bank, Kasikorn Bank, CIMB Thai Bank, Asia Plus Securities, Krung Thai Xspring Securities, and Maybank Securities (Thailand) as joint underwriters for the bond issuance. The proceeds will be used to repay maturing bonds and for working capital.

 Mr. Atthawit Chalermphayakorn, Director and Chief Financial Officer, revealed that NOBLE has submitted information to offer bonds to the general public and/or institutional investors to the Securities and Exchange Commission (SEC). The bonds are non-subordinated, unsecured, and will have a representative for bondholders. The bonds will have a term of 3 years with interest rates between 4.60% and 4.80% per annum. The exact interest rate will be announced later, with interest payments made every three months. The minimum subscription is 100,000 THB, and increments are in multiples of 100,000 THB. The offering is expected to take place from April 3-5, 2023, with the proceeds aimed at repaying maturing bonds due in April and October 2023, amounting to 1,732.50 million THB and 700.00 million THB, respectively, while the remainder will be used for working capital. The company and the bonds issued have been rated by Tris Rating Company Limited on February 3, 2023, at a level of “BBB” with a “Stable” outlook, which is considered an investment-grade rating.

In terms of performance for the first nine months of 2022, the company reported total revenue of 4,733 million THB and a net profit of 117 million THB. The pre-sale figures for 2022 reached 17,400 million THB, a 117% increase from the end of 2021, marking the highest figures since the company's inception. Additionally, the company launched 11 new projects in 2022, valued at a total of 31,550 million THB, which received a positive response from customers, such as the Nue District R9, Nue Mega Plus Bangna, Nue Evo Ari, and Nue Cross Khu Khot Station projects, reflecting an average sales rate of 60%-70% for each project. This has resulted in a backlog of over 19,000 million THB at the end of 2022, which will gradually be recognized as revenue over the next 2-3 years. With the backlog in hand, the company is confident that it will achieve revenue growth in 2023 exceeding that of 2022.

For 2023, the company aims to achieve total revenue of 15,000 million THB, with plans to launch 10 new projects valued at over 23,300 million THB, including single houses, townhomes, vacant land, and condominiums, distributed across various locations covering all directions of Bangkok, such as the western and eastern areas, as well as central locations like Witthayu Road.

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

  • Krung Thai Bank Public Company Limited, Tel. 02-111-1111, where individuals can subscribe online via the Krungthai NEXT application.
  • Kasikorn Bank Public Company Limited, Tel. 02-888-8888, press 819, where 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, where individuals can subscribe online via the Mobile Application - CIMB Thai Digital Banking.
  • Asia Plus Securities Company Limited, Tel. 02-680-4004.
  • Krung Thai Xspring Securities Company Limited, Tel. 02-695-5000.
  • Maybank Securities (Thailand) Public Company Limited, Tel. 02-658-5050.
  • Noble Development Public Company Limited, Tel. 02-251-9955 ext. 1415.

Warning: Investment carries risks. Investors should study and understand the nature of the product, return conditions, and risks before making investment decisions. Investors can find details in the information statement and draft prospectus at www.sec.or.th.

Note: The company is in the process of submitting the information statement and draft prospectus to the SEC, which is not yet effective. The allocation will be as determined by the underwriters, and the details will be in accordance with the conditions set forth in the draft prospectus.