Ananda Development Public Company Limited (ANAN) is preparing to issue and offer two series of bonds to general investors, including a series with a maturity of 1 year, 10 months, and 5 days with an interest rate of [4.50 - 4.70]% per year, and a series with a maturity of 2 years, 10 months, and 5 days with an interest rate of [5.70 – 5.90]% per year, with interest paid every 3 months. The subscription period is expected to be from [March 7 – 9, 2023].

The bonds have been rated as "investment grade" by Tris Rating at "BBB-" and seven financial institutions have been appointed as underwriters, including Krung Thai Bank, Kasikorn Bank, CIMB Thai Bank, Asia Plus Securities, Krung Thai Xspring Securities, Dao (Thailand) Securities, and Yuanta (Thailand) Securities. Tris Rating indicates that the credit rating reflects the company's market position, which is well-recognized in the condominium sector, along with a significant revenue share from joint venture projects. The management is confident that the bonds will receive a positive response as the real estate business benefits from China's reopening, leading to a resurgence in purchasing power.

Mr. Chanont Ruangkritya, CEO of Ananda Development Public Company Limited (ANAN) revealed that the company has submitted information to offer bonds to general investors and/or institutional investors to the Securities and Exchange Commission (SEC). These bonds are specified for named holders, non-subordinated, unsecured, and have two series: one with a maturity of 1 year, 10 months, and 5 days with an interest rate of [4.50 - 4.70]% per year, and another with a maturity of 2 years, 10 months, and 5 days with an interest rate of [5.70 - 5.90]% per year. The company will announce the exact interest rates later, with interest payments every 3 months (except for the last interest payment, which will have a duration of 1 month and 5 days). The bonds received a credit rating from Tris Rating on January 27, 2023, at "BBB-" with a "stable" outlook, similar to the corporate credit rating.

The bonds will be offered through seven leading financial institutions appointed as underwriters, including Krung Thai Bank Public Company Limited, Kasikorn Bank Public Company Limited, CIMB Thai Bank Public Company Limited, Asia Plus Securities Company Limited, Krung Thai Xspring Securities Company Limited, Dao (Thailand) Securities Public Company Limited, and Yuanta (Thailand) Securities Company Limited, with sales expected between [March 7 - 9, 2023].

“The company is confident that the 'Ananda' bonds will continue to attract interest from investors as in previous offerings, supported by the investment-grade credit rating from Tris Rating, attractive interest rates, and the relatively short maturity of the bonds. A significant factor boosting investor confidence is the business outlook, as the overall real estate market is beginning to recover with a better growth trajectory than in 2022, especially after the Chinese government decided to reopen the country sooner than expected, leading to an increase in Chinese tourists to Thailand and a resurgence in purchasing power among foreign buyers. Meanwhile, the demand for housing from Thai customers continues to be strong, which is a positive sign for the overall real estate business,” Mr. Chanont stated.

Tris Rating noted that the credit rating of the bonds reflects the company's market position, which is well-regarded in the condominium sector, along with a significant revenue share from joint venture projects. Tris Rating expects that during 2023 - 2025, earnings before interest, taxes, depreciation, and amortization (EBITDA), including profit sharing from joint ventures, will likely be in the range of 1.5-2.0 billion baht per year, and the company will achieve net profits starting from 2023.

Ananda Development is engaged in real estate development, including condominium projects, single-family homes, and townhomes in Bangkok and its vicinity. The condominium projects focus on locations near BTS stations to enhance the convenience of living for residents, while the single-family home and townhome projects emphasize unique architectural design concepts that meet the needs of customers in various segments. In the first nine months of 2022 (January - September 2022), the company recorded total transfers of 9,306 million baht, reflecting customer confidence in Ananda's experience in understanding urban customers in both the condominium and low-rise markets.

For the general public interested in investing in Ananda bonds, further details can be obtained from the bond distribution managers at the seven institutions starting today:

  • Krung Thai Bank Public Company Limited, Tel. 02-111-1111
  • Kasikorn Bank Public Company Limited, Tel. 02-888-8888 ext. 819, individuals can subscribe online at https://www.kasikornbank.com/kmyinvest (except for foreign nationals and legal entities who can subscribe through the head office and branches)
  • CIMB Thai Bank Public Company Limited, Tel. 02-626-7777 or subscribe online via the CIMB Thai Digital Banking app
  • Asia Plus Securities Company Limited, Tel. 02-680-4004
  • Krung Thai Xspring Securities Company Limited, Tel. 02-695-5000
  • Dao (Thailand) Securities Public Company Limited, Tel. 02-351-1800 press 1
  • Yuanta (Thailand) Securities Company Limited, Tel. 02-009-8351-56