Major Development has successfully closed the deal for its new bond offering of 1.3 billion baht, fully subscribed, reinforcing investor confidence in the company and reflecting its strong fundamentals as it aims to become a full-fledged Lifescape Developer.

Ms. Phetlada Phoolwaralak, Chief Executive Officer of Major Development Public Company Limited, a leader in luxury real estate and pet-friendly residences, stated that the company received an excellent response from institutional and major investors for its bond offering in the first tranche of 2022, totaling 2 series with a combined value of up to 1.3 billion baht. The offering was open from March 31 to April 1-4, 2022, through four bond distribution managers: Globlex Securities Co., Ltd., Asia Plus Securities Co., Ltd., Krung Thai CIMB Securities Co., Ltd., and KTBST Securities Co., Ltd.

The first bond series, valued at 400 million baht, has a maturity of 1 year and 6 months with a fixed interest rate of 6.25% per annum, paying interest every 3 months throughout the bond's term. The second bond series, valued at 800 million baht, has a maturity of 2 years and 6 months with a fixed interest rate of 6.80% per annum, also paying interest every 3 months. Both series received strong demand and were fully sold out, including an additional 100 million baht in reserve bonds, totaling 1.3 billion baht sold in a short period.

“In a financial market that is quite volatile due to global economic factors, major investors and institutional investors are considering their investments more carefully. However, the company continues to receive positive responses as in the past, reflecting investor confidence in the company's operational direction, which continues to advance in both real estate and new business sectors to fulfill its role as a Lifescape Developer. We thank all investors for their trust in investing in our bonds this time,” Ms. Phetlada stated.

Ms. Phetlada further mentioned that the funds raised through this bond offering will be allocated primarily for two main purposes: as working capital within the company and to reserve for the repayment of bonds maturing in April and May 2022.

Major Development Public Company Limited is a developer of luxury real estate projects with three main business groups: 1. Residential development for sale, 2. Commercial real estate projects such as offices and hotels, and 3. Services related to real estate. The company has a vision for continuous growth to create luxury projects that meet consumer demands.