SC Asset to Offer New Bond Issue Soon with 3.75% Interest Rate

SC Asset Corporation Public Company Limited, a leading real estate developer providing Living Solutions for better mornings, has received a credit rating of BBB+ with a stable outlook from TRIS Rating. The company is preparing to offer a new issue of non-subordinated, unsecured bonds with a maturity of 2 years and 9 months to institutional investors and/or large investors at an interest rate of 3.75% per annum. Kasikorn Bank, CIMB Thai Bank, and Thai Military Bank will act as the underwriters for this offering.

Mr. Atthapol Surasithiphanawat, Chief Support Officer, revealed that SC has submitted a registration statement to the Securities and Exchange Commission (SEC) to offer non-subordinated, unsecured bonds with a representative for bondholders to institutional investors and/or large investors. The bonds will have a fixed interest rate of 3.75% per annum, with interest paid every three months. The minimum subscription is 100,000 baht, with increments of 100,000 baht. The offering is expected to take place in October, and the proceeds will be used to repay maturing bonds and/or for working capital. The company received a credit rating of BBB+ with a stable outlook from TRIS Rating on October 4, 2019.

In the first six months of 2020, the company reported growth in revenue, profit, and sales, with operating revenue of 7.861 billion baht and a net profit of 757 million baht, compared to 6.678 billion baht in revenue and a net profit of 597 million baht in the same period of 2019. In the second quarter, the company achieved a net profit of 456 million baht, a 52% increase compared to the first quarter of 2020. The presales in the first six months reached a record high of 8.202 billion baht, primarily from horizontal projects. This year, the company plans to launch 12 new horizontal projects worth a total of 14.2 billion baht, with five projects launched in the first six months and three more in the third quarter, including Grand Bangkok Boulevard Bangna-On Nut, Venue Flow Tiwanon-Rangsit, and Work Sai Mai-Phaholyothin. All new and ongoing projects across various price levels have received a positive response.

The company's focus on developing horizontal projects caters to customers looking for actual residences, and its quality products and after-sales services are well recognized in the market. Additionally, the shift to online marketing strategies has contributed to strong sales and revenue growth from horizontal projects, helping the company mitigate the impact of the economic downturn caused by the COVID-19 pandemic. The company is confident it will achieve its revenue targets for 2020, and its strong credit rating of BBB+ with a stable outlook reaffirms its status as a leading real estate developer in Thailand, particularly in the single-detached house market.

For investors seeking more information about SC's bond offering, details can be found at www.sec.or.th or by contacting the following financial institutions:

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

CIMB Thai Bank Public Company Limited, Tel. 02-626-7777

Thai Military Bank Public Company Limited, Tel. 1558, press #9