The Securities and Exchange Commission (SEC) has approved the filing of information for Right Tunneling Public Company Limited (RT) to offer long-term bonds for the first time in 2024. The bonds will be issued in two series: the first series will mature in 2026, with a fixed interest rate of 7.25% per annum, and the second series will mature in 2027, with a fixed interest rate of 7.50% per annum. Both series will pay interest every three months throughout the bond's duration.

The bonds are intended for institutional investors and/or high-net-worth individuals (II&HNW). The funds raised will be used for short-term working capital, supporting opportunities for public and private construction projects, and repaying the RT252A bond. The subscription period is set for November 4-6, 2024, with the sale scheduled for November 7, 2024.

Mr. Somsak Sirichainarumit, CEO of Asset Pro Management Co., Ltd. (APM), revealed that the company submitted the filing for the long-term bond offering of Right Tunneling Public Company Limited on August 23, 2024, and the SEC approved the draft filing on September 25, 2024.

Details of the long-term bonds include two series: the first series maturing in 2026, with a maturity of 2 years and a fixed interest rate of 7.25% per annum, and the second series maturing in 2027, with a maturity of 3 years and a fixed interest rate of 7.50% per annum, both paying interest every three months.

Mr. Chawalit Tanomthin, CEO of Right Tunneling Public Company Limited (RT), a specialist in civil engineering, tunnel excavation, and geotechnical engineering, stated that the company currently has a backlog worth 7.332 billion baht (as of June 30, 2024), which allows for continuous construction operations and revenue recognition.

The company is closely monitoring the bidding situation for public and private construction projects and is preparing financially to support future backlog growth. At the same time, the company focuses on improving operational efficiency, managing construction costs, and managing labor on each project to enhance profitability.

Mr. Suriyatham Thamthira, Deputy Managing Director of Asset Pro Management Co., Ltd. (APM), discussed the purpose of this bond issuance, stating that the funds raised will be used as short-term working capital to strengthen financial stability for future public and private construction operations and to repay the RT252A bond.

APM, as the financial advisor, has planned to adjust the bond issuance strategy to align with the current debt market conditions and meet investor demand. The bond sale dates have been rescheduled from October 1-3, 2024, to November 4-6, 2024, with the bond issuance set for November 7, 2024.

The bonds will be offered to institutional investors and/or high-net-worth individuals (II&HNW) through six bond distribution managers: Dao Securities (Thailand) Public Company Limited, UOB Kay Hian Securities (Thailand) Public Company Limited, Globlex Securities Co., Ltd., Phillip Securities (Thailand) Public Company Limited, Siam Wealth Securities Co., Ltd., and Krungthai Xspring Securities Co., Ltd., with Bangkok Bank Public Company Limited serving as the bond registrar and Dao Securities (Thailand) Public Company Limited as the bondholder representative.