SC Asset Thrilled as Bond Sales Exceed Expectations

 

SC Asset Corporation Public Company Limited, a leading real estate developer delivering Living Solutions for better mornings, is pleased with the response from the sale of bonds to institutional and/or major investors from March 30 to April 1. The interest in purchasing exceeded expectations, reflecting investors' confidence in the company.

 

Mr. Atthapol Surasithpanthawat, Chief Support Officer, revealed that this bond offering is the second of the year, continuing to attract significant interest from both major and institutional investors, with institutional investors expressing interest in purchasing more than nine times the allocated amount. This exceeded the company's expectations, prompting the decision to utilize an additional 300 million baht of reserved bonds, bringing the total offering to 1 billion baht. The company thanks all investors for their trust in investing in this bond and appreciates the three financial institutions managing the bond distribution: Kasikorn Bank, CIMB Thai Bank, and Thai Military Bank, which played a crucial role in successfully presenting the bonds to investors. The funds raised will be used to repay maturing bonds and finance business operations, such as purchasing land for project development in 2021-2022, focusing on expanding horizontal projects to achieve the goal of becoming the number one brand for single-family homes in the minds of homebuyers.

 

Mr. Atthapol further stated that the company's focus on developing horizontal projects primarily targets customers who are buying for actual residence. With the company's quality products and after-sales services recognized in the market, sales and revenue from horizontal projects have grown well. Meanwhile, the company is also developing condominium projects. In 2021, the company plans to launch a total of 11 projects valued at over 17 billion baht, consisting of 8 horizontal projects worth over 9 billion baht and 3 condominium projects worth over 8 billion baht, with all projects having secured land. Regarding the company's readiness to support growth in 2021-2022, the company has high liquidity and strong support from financial institutions and investors. As of the end of 2020, the debt-to-equity ratio (D/E Ratio) was 1.38, down from 1.58 the previous year, giving the company confidence in its readiness for expansion. The company's strength is also reflected in its credit rating of BBB+ with a stable outlook as of October 20, 2020, by Tris Rating, which noted that the company has a widely recognized brand and a satisfactory market position, especially in the mid to high-end housing market, and is a leader in the housing market for properties priced over 10 million baht.