RT has appointed CGS-CIMB MST CNS KTX DAOL to issue 2-year bonds with an interest rate of 6.20% for institutional investors and/or major investors (II&HNW) with a total bond value not exceeding 500 million baht and an additional reserve bond value not exceeding 200 million baht, totaling a maximum of 700 million baht. The funds will be used for new project investments and working capital to expand into international markets, enhancing construction capabilities and pushing the backlog to 11.4 billion baht. The subscription period is from February 21-23, 2023, with the bond issuance date on February 24, 2023. APM, the financial advisor, emphasizes the business's continuous growth opportunities.

Dr. Chawalit Thanomthin, CEO of Right Tunneling Public Company Limited (RT), a specialist in civil engineering and geotechnics, revealed that the company is advancing its operational efficiency in construction and cost management, with plans to bid for both public and private sector projects at realistic construction costs to enhance profitability to appropriate levels. The company also aims to increase the proportion of international projects by 5-6%. Currently, the backlog stands at a record high of 11.4 billion baht since the company's inception, with revenue recognition expected from 2023 to 2026.

The company has appointed CGS-CIMB Securities (Thailand) Co., Ltd., Maybank Securities (Thailand) Public Company Limited, Nomura Pattanasin Public Company Limited, Krungthai Xspring Securities Co., Ltd., and Dao Securities (Thailand) Public Company Limited as bond underwriters to offer long-term unsecured bonds of Right Tunneling Public Company Limited, Series 1/2023, maturing in 2025. The bonds are registered to specific holders, are non-subordinated, unsecured, and have a 2-year term with an interest rate of 6.20% per annum, with interest paid every three months throughout the bond's life. The total bond value is not exceeding 500 million baht, with an additional reserve bond value not exceeding 200 million baht, totaling a maximum of 700 million baht.

Dr. Somphop Sakpanpanom, Chairman, discussed the purpose of this bond issuance to fund investments in construction projects that the company is bidding for, both domestically and internationally, such as the construction of the dual-track railway project Denchai-Chiang Rai-Chiang Khong and civil works for the permanent structure of the hydropower plant project in Luang Prabang, Laos. This will continuously enhance the value of the projects in hand. Additionally, it will serve as working capital to improve construction efficiency, focusing on timely project delivery and continuous revenue recognition.

Regarding the corporate credit rating by Tris Rating Co., Ltd., Right Tunneling Public Company Limited has a rating of 'BBB-' with a 'negative' outlook as of December 20, 2022, reflecting strong competitive capabilities and performance in tunnel and underground structure construction by an experienced management team, engineers, and geologists, along with comprehensive equipment and machinery. The company has also gained continuous trust from both public and private sectors, such as the tunnel project for the dual-track railway in the Northeast (Mab Kabao-Chumthang Jiran Road) and the Mae Taeng-Mae Ngat project, both of which are expected to contribute additional performance to the company and increase opportunities for winning other construction contract bids in the future.

Mr. Somsak Sirichainarimit, CEO of Asset Pro Management Co., Ltd. (APM), as the financial advisor, stated that this bond offering is targeted at institutional and/or major investors (Institutional and High Net Worth Investor: II&HNW), with subscription dates set from February 21-23, 2023, and bond issuance on February 24, 2023. The company is confident that RT will continue to perform well due to its operational efficiency development plans and ongoing project acquisitions, along with a significant backlog awaiting revenue recognition, making this a great opportunity for the company to raise funds through this bond issuance.

The RT bond offering has five underwriters: CGS-CIMB Securities (Thailand) Co., Ltd., Maybank Securities (Thailand) Public Company Limited, Nomura Pattanasin Public Company Limited, Krungthai Xspring Securities Co., Ltd., and Dao Securities (Thailand) Public Company Limited, with Krungsri Bank Public Company Limited as the bond registrar and payment agent, and Asia Plus Securities Co., Ltd. as the bondholder representative.