SENA Launches New Bond Offering with 4.50% Interest Rate

Available for Subscription by Institutional and Major Investors, Expected on October 1-2 and 5

 

SENA is preparing to issue a new bond series expected to be offered between October 1-2 and 5, 2020, with a maturity of 3 years and 4 months and a fixed interest rate of 4.50% per annum. The bonds will be offered to institutional and major investors through 5 financial institutions. The company has received a credit rating of BBB from TRIS Rating Co., Ltd., and is confident of a positive response from investors.

Associate Professor Dr. Kesara Thanyalakphak, Deputy CEO of Sena Development Public Company Limited, the developer of Thailand's first fully solar-powered village project, revealed that the company is preparing to issue and offer a new bond series for institutional and/or major investors. The bonds will have a maturity of 3 years and 4 months, a fixed interest rate of 4.50% per annum, with interest payments every 3 months.

This bond is a non-subordinated, unsecured bond with a bondholder representative. Subscriptions are expected to open between October 1-2 and 5, 2020, through the 5 financial institutions, which include Kasikornbank Public Company Limited, CIMB Thai Bank Public Company Limited, Nomura Securities PCL, Asia Plus Securities Co., Ltd., and Kiatnakin Phatra Securities Public Company Limited.

 

The purpose of this bond issuance is to prepare for the repayment of bonds maturing in March 2021 and/or to use as working capital for the company's operations and its subsidiaries within one year. Given the current volatile economic situation, the company must plan its cash flow management more carefully, hence the decision to offer some bonds before the previous series matures to diversify risks in case the market experiences high volatility in the future.

In light of the current situation, the company has strategies to mitigate the impact and risks from these circumstances by planning to launch projects and conduct business with greater flexibility, applying the CAP principle: Cope, which means addressing short-term issues effectively; Adjust, which involves adapting methods and operations without sticking to old ways; and Positioning, which focuses on long-term vision and future planning.

In the second quarter of 2020, the company achieved a net profit of 226.7 million baht, an increase of 92.8% compared to the same period last year. For the six-month period, the net profit was 453.4 million baht, an increase of 179.0 million baht or 65.3% compared to the same period last year. As of June 30, 2020, the company had a backlog of sales ready for transfer amounting to 11,497 million baht, with 5,863 million baht ready for transfer in the second half of the year. The company plans to launch 3 new projects in the second half of the year, including 1. The Kit Plus Phaholyothin – Kukot (Phase 2), 2. Sena Viva Petchkasem - Phutthamonthon Sai 7, and 3. Sena Kit Theparak - Bang Bo.

For institutional and/or major investors interested in subscribing to the bonds, further details can be found at www.sec.or.th or by contacting the following 5 financial institutions:

Kasikornbank Public Company Limited, Tel. 02-888-8888, press 819

CIMB Thai Bank Public Company Limited, Tel. 02-626-7000

Nomura Securities PCL, Tel. 02-638-5500

Asia Plus Securities Co., Ltd., Tel. 0-2680-4004

Kiatnakin Phatra Securities Public Company Limited, Tel. 0-2305-9442