Origin Property Public Company Limited (ORI) <\/strong><\/span>has submitted a registration statement and draft prospectus to the SEC to disclose preliminary information regarding the upcoming bond offering to general and institutional investors. This will consist of two series: one with a maturity of 1 year, 7 months, and 16 days at an interest rate of 4.25% per annum, and another with a maturity of 3 years at an interest rate of [4.75-4.85]% per annum, with interest payments every three months.<\/span> The bonds are expected to be offered between January 11-12 and January 15, 2024, through seven leading financial institutions, including Krung Thai Bank, Kasikorn Bank, CIMB Thai Bank, Asia Plus Securities, Yuanta Securities (Thailand), CGS-CIMB Securities (Thailand), and Merchan Partners.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited <\/strong><\/span>revealed that ORI is preparing to issue and offer bonds for the first time in 2024. These bonds will be named bonds, non-subordinated, unsecured, and will have a bondholder representative. The proceeds will be used to repay existing bonds and short-term loans, acquire additional land for project development, and/or for working capital in business operations. The total bond offering will consist of two series: the first series with a maturity of 1 year, 7 months, and 16 days at an interest rate of 4.25% per annum, and the second series with a maturity of 3 years at an interest rate of [4.75-4.85]% per annum. The exact interest rates will be announced later, and the bonds are expected to be offered between January 11-12 and January 15, 2024. On April 24, 2023, TRIS Rating assigned a credit rating of 'BBB+' with a 'Stable' outlook to the bonds.

For 2024, our business plan continues to build on 2023, with a clearer vision for diversifying investments nationwide in a multiverse format, allowing for various project developments to meet all forms of demand, along with comprehensive services under the concept of 'Origin Infinity.' This aims to create continuous growth and care for consumers, developing Origin Property into a Well-Being Lifetime Company through three main drivers: 1. Expanding diverse products and services nationwide (Nationwide serve), 2. Expanding new business universes for continuous growth (Multiverse Expansion) focused on improving quality of life (Better Lifetime), building on the Origin Multiverse plan by expanding beyond residential projects for ongoing growth, and 3. Social care (Social Attention) to contribute to society and the environment in various dimensions to create a better society.

For the accumulated performance in the first nine months of 2023, the group generated total presales of approximately 36.937 billion baht, growing about 26% from the same period last year, with sales from condominium projects accounting for about 77% and sales from housing projects about 23%. The group had a backlog of approximately 47.024 billion baht at the end of Q3 2023, including amounts from both joint venture projects and projects under joint ventures expected to be recognized in 2023, totaling about 10.699 billion baht. Including the transfer of ownership that has already occurred in the first nine months of 2023, this results in the group having 88% of the target transfer of ownership for 2023, which is set at 30 billion baht. Therefore, the company is confident that its performance in 2023 will meet the targets. Thus, the company believes that the ORI bonds being offered this time represent an attractive investment opportunity and expects a positive response from investors as in previous offerings.

For investors interested in purchasing bonds, the minimum subscription is 100,000 baht and multiples of 100,000 baht through the seven financial institutions listed below:

  • Krung Thai Bank, Tel. 02-111-1111 or subscribe online via the Krungthai Next app or through Money Connect by Krungthai (https://moneyconnect.krungthai.com/)
  • Kasikorn Bank, Tel. 02-888-8888, press 819 or subscribe online at https://www.kasikornbank.com/kmyinvest
  • CIMB Thai Bank, Tel. 02-626-7777 or subscribe via the Mobile application - CIMB Thai Digital Banking
  • Asia Plus Securities Co., Ltd., Tel. 02-680-4004
  • Yuanta Securities (Thailand) Co., Ltd., Tel. 02-009-8351-56
  • CGS-CIMB Securities (Thailand) Co., Ltd., Tel. 02-846-8675
  • Merchan Partners Co., Ltd. (Public), Tel. 02-6606624

 

Warning: <\/strong><\/span>Investing involves risks. Investors should study and understand the nature of the product, return conditions, and risks before making investment decisions.
Investors can find detailed information from the registration statement and draft prospectus at www.sec.or.th<\/a>

Note: The company is in the process of submitting a registration statement and draft prospectus to the SEC, which is not yet effective. Therefore, the information may be subject to change. Allocation is at the discretion of the bond distribution manager, and the distribution conditions are as specified in the draft prospectus.