Noble Delighted by Investor Interest in Bond Sales Exceeding Targets

 

The company would like to thank all investors for their trust in investing in the company’s bonds this time, and we also thank the financial institutions that managed the bond distribution, which include Krung Thai Bank, Kasikorn Bank, CIMB Thai Bank, Asia Plus Securities, Finansa Securities, and KTB Securities (Thailand) for their support in providing information. Noble Development Public Company Limited ("the Company") announced that the issuance and offering of bonds has successfully exceeded the set target, receiving positive feedback. The distribution managers indicated that the supportive factors stem from investors' confidence in the company, which has a strong track record of never defaulting on debt and has received a credit rating outlook upgrade from Tris Rating amidst the uncertainties of the COVID-19 situation.

Mr. Atthawit Chalermthayakorn, Director and Chief Financial Officer, revealed that the bonds offered this time received significant interest from investors, exceeding the amount the company aimed to issue to refinance bonds maturing in November, totaling 1,050 million baht. This led the company to decide to utilize additional bonds for sale (Greenshoe) with a total offering value of 1,250 million baht after opening for sale on November 13, 16, and 17, 2020. The company plans to use the excess funds to repay bonds maturing in February 2021.

The group of bond distribution managers further commented that the factors contributing to the positive response from investors towards the company’s bonds include the company’s strong debt repayment history, which has never defaulted before, reflecting the company’s robust performance, as well as the company’s residential projects that are well-recognized in the market and lead among top real estate development companies in Thailand. Additionally, the company received a credit rating from Tris Rating at BBB and had its credit rating outlook upgraded to “Stable” on October 19, 2020, despite the uncertainties from the COVID-19 situation, indicating the company’s strong performance in the past. These factors are significant supports for investors' decisions to invest in the company, leading to the successful issuance and offering of bonds this time.