Noble Development Public Company Limited (NOBLE) is set to offer two new bond issues: one with a maturity of 1 year, 5 months, and 26 days at an interest rate of 4.80% per annum, and another with a maturity of 3 years at an interest rate of 5.25% per annum. The subscription period is expected to be from December 18-20, 2023. Both the company and the bonds have been rated 'BBB' with a 'Stable' outlook by Tris Rating Company on November 30, 2023. Krung Thai Bank, Kasikorn Bank, CIMB Thai Bank, Asia Plus Securities, Krung Thai Xspring Securities, and Maybank Securities (Thailand) have been appointed as the bond underwriters. The proceeds will be used to repay bonds maturing in 2024.

Mr. Atthawit Chalermphakdee, Director and Chief Financial Officer, revealed that NOBLE is preparing to issue two new bond series, which will be unsecured and non-subordinated bonds with a representative for bondholders, available to retail and/or institutional investors. The first bond series has a maturity of 1 year, 5 months, and 26 days at an interest rate of 4.80% per annum, while the second series has a maturity of 3 years at an interest rate of 5.25%, with interest payments every three months. The minimum subscription for both series is 100,000 Baht, with increments of 100,000 Baht. The purpose of this bond issuance is to repay bonds maturing in February and October 2024, totaling 1.8 billion Baht and 300 million Baht, respectively. The company does not plan to issue additional bonds beyond those maturing to maintain financial discipline. Both the company and the bonds issued have received a 'BBB' rating with a 'Stable' outlook from Tris Rating Company on November 30, 2023, which is considered an investment-grade rating.

Previously, NOBLE was selected for the SET ESG Rating 2023 with a rating of 'AA' and has been on the sustainable stock list for two consecutive years, reflecting its commitment to responsible business practices concerning environmental, social, economic, and governance (ESG) factors. The company is dedicated to sustainable development and driving its business forward under the principle of 'Live Different,' which emphasizes beneficial business practices in all aspects of urban living while supporting diversity in society, creating a better environment, and steering the organization towards sustainability for a better tomorrow. The company is also committed to achieving net-zero carbon emissions in the future. This award reinforces NOBLE's commitment to sustainable business practices with responsibility towards the environment, society, and governance (ESG).

In terms of performance for the first nine months of 2023, the company reported total revenue of 7.274 billion Baht, a growth of 54% compared to the same period last year, with a net profit of 719 million Baht, a growth of 517% compared to the same period last year. This growth primarily stems from increased operational profits due to rising total revenue and recognition of special profits from the sale of investments in joint ventures, namely Rama 9 Alliance Co., Ltd., which develops the New District R9 project, and Kookat Station Alliance Co., Ltd., which develops the New Cross Kookat Station project for Proud Real Estate Public Company Limited (PROUD), along with various fees received as a project management partner, including management fees, incentive fees, and success fees.

For sales (Presale) in the first ten months of 2023 (January-October), the total reached over 12.288 billion Baht (excluding sales from the New District R9 project and New Cross Kookat Station project), driven by ready-to-move products that received positive customer feedback due to the project's design and location. This has led to a backlog of over 19.492 billion Baht, which will be gradually recognized over the next 3-4 years. Additionally, NOBLE has ready-to-move and in-development products valued at over 35.253 billion Baht. In the first ten months of 2023, the company launched six new projects worth a total of 17.1 billion Baht, including: 1. New Core Kookat Station Project, 2. New Hive Suksawat Project, 3. Noble Way Cha-am Project, 4. Noble Terra Rama 9 – Ekkamai Project, 5. Noble Aqua Riverfront Ratburana Project, and 6. The Embassy Wireless Project. There are also plans to launch two more new projects worth over 3.1 billion Baht in the remaining months of the year, bringing the total number of projects launched in 2023 to eight, with a total value of 20.2 billion Baht.

For investors seeking more information about the bond offering from NOBLE, details can be found at www.sec.or.th or https://investor.noblehome.com. They can also contact the six financial institutions managing the bond distribution as follows:

  • Krung Thai Bank Public Company Limited, Tel: 02-111-1111, individuals can subscribe online via the Krungthai NEXT application.
  • Kasikorn Bank Public Company Limited, Tel: 02-888-8888, press 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, individuals can subscribe online via the CIMB Thai Digital Banking Mobile Application.
  • Asia Plus Securities Co., Ltd., Tel: 02-680-4004.
  • Krung Thai Xspring Securities Co., Ltd., Tel: 02-695-5000.
  • Maybank Securities (Thailand) Public Company Limited, Tel: 02-658-5050.
  • Noble Development Public Company Limited, Tel: 02-251-9955, ext. 1415.

Warning: Investing involves risks. Investors should study and understand the nature of the products, terms of returns, and risks before making investment decisions. Investors can find details in the information statement and draft prospectus at www.sec.or.th.

Note: The company is in the process of filing the information statement and draft prospectus with the SEC, which is not yet effective. The allocation will be according to the details set by the underwriters, and the distribution conditions will be as specified in the draft prospectus.