L.P.N. Development Public Company Limited ("the Company" or "LPN") is set to issue two new series of bonds: Series 1 with a 2-year term and an interest rate of [4.90 – 5.20]% per annum and Series 2 with a 3-year term and an interest rate of [5.20 - 5.50]% per annum, with interest payments every 3 months. The offering is expected to take place in January 2024. The Company and the bonds have been rated by Tris Rating Co., Ltd. at "BBB" with a "negative" outlook as of November 27, 2023. Bangkok Bank, Krung Thai Bank, Asia Plus Securities, Yuanta Securities (Thailand), and Maybank Securities (Thailand) have been appointed as the bond distribution managers. The proceeds from this bond issuance will be used to repay existing bonds and/or to fund working capital within 2024.

Mr. Opas Sripak, Chief Executive Officer and Managing Director of L.P.N. Development Public Company Limited (LPN) stated that LPN, a group of quality residential developers committed to enhancing living standards for over 35 years, is preparing to offer two new series of bonds. These bonds will be non-subordinated, unsecured, and will have a bondholder representative for general and/or institutional investors. Series 1 has a 2-year term with an interest rate of [4.90 – 5.20]% per annum, and Series 2 has a 3-year term with an interest rate of [5.20 - 5.50]% per annum (the final interest rates for each bond series will be announced in January 2024). Both series will pay interest every 3 months, with a minimum subscription of 100,000 baht and multiples of 100,000 baht. The offering is expected to take place in January 2024, with the proceeds aimed at repaying existing bonds and/or funding working capital within 2024.

The bonds have been rated "BBB" by Tris Rating Co., Ltd. on November 27, 2023, which is the same as the corporate credit rating, and has a "negative" outlook, indicating an Investment Grade level suitable for investment.

In the first nine months of 2023, the Company launched projects worth over 10 billion baht, including premium single-house and townhouse projects such as the Residence 168 Ratchaphruek, Maison 168 Muang Thong, and affordable single-house and townhouse projects like Venue 24 Kukot Station and House 24 Westgate, along with quality condominiums recognized in the real estate sector for 35 years, including Park 168 Nopparat Ramindra. A new brand launched in the third quarter is Earn by L.P.N. located in Amata Industrial Estate, Chonburi. In terms of performance, the Company achieved sales of over 8 billion baht in the past nine months, with total revenue of 5.562 billion baht and a net profit of 336 million baht, primarily from sales of ready-to-move-in projects, including condominiums, while also gradually delivering new residential projects. Additionally, there is a backlog of over 2.8 billion baht expected to generate future revenue.

“The Company believes that this bond issuance will attract investor interest, as bond fundraising is not frequent each year, making it an investment opportunity and an attractive option for investors seeking good returns from an organization with an investment-grade credit rating.”

For the general public interested in investing in LPN bonds, more details can be found at www.sec.or.th and inquiries can be made to the bond distribution managers at the following five institutions starting today:

  • Bangkok Bank Public Company Limited (except micro branches) Tel. 1333 (individuals can also subscribe online via the Bualuang mBanking application as another option)
  • Krung Thai Bank Public Company Limited Tel. 02-111-1111 (individuals can also subscribe online via the Krungthai NEXT application as another option)
  • Asia Plus Securities Co., Ltd. Tel. 02-680-4004
  • Yuanta Securities (Thailand) Co., Ltd. Tel. 02-009-8351-56
  • Maybank Securities (Thailand) Public Company Limited Tel. 02-658-5050