Minor International Public Company Limited or MINT ("the Company") is preparing to offer a new series of subordinated bonds with equity-like characteristics in September this year. The bonds have a credit rating of "BBB+" and the company's credit rating is "A" with a "Stable" outlook, aimed at replacing the existing subordinated bonds (MINT18PA) that the company plans to redeem early. The company is confident in its potential as a leading player in the hotel, restaurant, and lifestyle sectors, which are continuously recovering following the easing of lockdown measures and the reopening of the country to welcome tourists. In the first quarter of 2022, the company reported total revenue of over 20.7 billion baht.

Mr. Chaiphat Paitoon, Chief Financial Officer of Minor International Public Company Limited, revealed that the company is preparing to offer a new series of subordinated bonds, which will be redeemable upon the company's dissolution ("subordinated bonds") to the general public in September this year, to replace the existing subordinated bonds (MINT18PA) that the company plans to redeem early. This move aims to maintain a strong financial structure and prepare for future business expansion opportunities. The company has appointed Bangkok Bank Public Company Limited, Krung Thai Bank Public Company Limited, Kasikorn Bank Public Company Limited, Siam Commercial Bank Public Company Limited, Krungsri Bank Public Company Limited, CIMB Thai Bank Public Company Limited, and Kiatnakin Phatra Securities Public Company Limited as the underwriters for the bond issuance. The interest rate and details for subscription will be announced later.

The subordinated bonds have been rated "BBB+" with a "Stable" outlook, while the company has confirmed its credit rating of "A" with a Stable outlook from TRIS Rating Company Limited as of June 22, 2022, reinforcing the company's potential as a leading global player in the hotel, restaurant, and lifestyle sectors, along with its strong financial position. The overall hotel and tourism business, both domestically and internationally, is gradually recovering as the global COVID-19 situation improves and many countries ease travel restrictions for tourists.

"In the past, the company has received a positive response from investors regarding bond offerings, so we are confident that this new series of subordinated bonds will continue to attract interest from those looking to diversify their investments in a stable company with appropriate returns amid the current volatile market conditions. The company has a history of consistently paying interest, even during the COVID-19 pandemic, while maintaining strong operational capabilities and a solid financial structure," Mr. Chaiphat stated.

Mr. Chaiphat further noted that the overall hotel, restaurant, and lifestyle business is continuously recovering this year, following the government's gradual easing of lockdown measures and the full reopening of the country since June 1. This has positively impacted domestic tourism, which is becoming more vibrant, and the number of foreign tourists traveling to Thailand is expected to increase to 7 – 10 million this year. The overall hotel business abroad is also improving continuously as the global COVID-19 situation stabilizes, leading many countries to gradually ease travel restrictions, which positively affects the recovery of tourism and, consequently, the company’s business.

In the first quarter of 2022, the company reported total revenue of 20.701 billion baht, an increase of 66% compared to the same period last year, and earnings before interest, taxes, depreciation, and amortization (EBITDA) grew more than five times from the same period last year, reaching 2.737 billion baht. This growth is attributed to improved profitability from the hotel business, where the company’s owned hotels in Europe and Latin America saw average revenue per room per night grow nearly four times compared to the same period last year, and average room rates increased by 32% to 92 euros per night, nearing pre-COVID-19 levels. The restaurant and lifestyle business also maintained positive EBITDA due to the easing of lockdown measures and improved operational efficiency.

As of the end of the first quarter of 2022, the restaurant business had a total of 2,410 branches, including The Pizza Company, Swensen's, Sizzler, Bonchon, etc. Total sales across all branches grew by 11.5% compared to the same period last year. The hotel business, in which the company has invested, comprises 369 properties and manages another 158 in 56 countries, totaling 75,805 rooms, including brands such as Anantara, Avani, NH, and Oaks. The lifestyle business has a total of 339 retail outlets, including Anello, Bossini, and Charles & Keith.

Investors interested in subscribing to the new series of subordinated bonds can find more details in the draft prospectus or inquire with any of the seven financial institutions, including:
- Bangkok Bank Public Company Limited (except micro branches) Tel. 1333
- Krung Thai Bank Public Company Limited Tel. 02-111-1111
- Kasikorn Bank Public Company Limited Tel. 02-888-8888 press 819
- Siam Commercial Bank Public Company Limited Tel. 02-777-6784
- Krungsri Bank Public Company Limited Tel. 1572
- CIMB Thai Bank Public Company Limited Tel. 02-626-7000
- Kiatnakin Phatra Securities Public Company Limited Tel. 02-165-5555 (including Kiatnakin Phatra Bank Public Company Limited as a sales unit of Kiatnakin Phatra Securities Public Company Limited).