Major Development is preparing to offer secured bonds with a term of 2 years and 6 months to institutional investors and/or large investors at a fixed interest rate of 7.10% per annum, with interest payments made every 3 months throughout the bond's term. The bonds will be secured by real estate valued at no less than 1.30 times the value of the bonds being offered. The company's and the bonds' credit rating is at level BB with a 'stable' outlook according to Tris Rating. The subscription period is expected to be from April 22-24, aiming to fund the business plan for 2024 and to advance the development of new projects worth over 10,000 million baht and to repay bonds and loans from financial institutions, targeting sales of over 9,000 million baht and transfer volumes exceeding 3,000 million baht this year.

Dr. Surya Poovoralak, Managing Director of Major Development Public Company Limited or “MJD” revealed that the company is preparing to offer a new series of bonds for the second time in 2024 to support growth according to the business plan for 2024. The company aims to leverage its capabilities and expertise in developing luxury residential projects to expand its business and develop new projects that meet consumer demands in a challenging real estate market. In the first quarter of this year, the company achieved significant success with positive feedback from the launch of two MUNIQ brand condominium projects in the heart of Bangkok, with pre-sales exceeding 4,400 million baht.

The bonds being offered are secured bonds, non-subordinated, with real estate collateral valued at no less than 1.30 times the value of the bonds being offered. They are available to institutional investors and/or large investors with a term of 2 years and 6 months at a fixed interest rate of 7.10% per annum, with interest payments made every 3 months throughout the bond's term, maturing in 2026. The company received a credit rating of BB with a 'stable' outlook from Tris Rating on July 7, 2023, and the bonds are expected to be offered between April 22-24, 2024. The total number of bonds offered will not exceed 1,000,000 units, valued at no more than 1,000,000,000 baht, with an additional 250,000 units reserved, valued at no more than 250,000,000 baht. The total number of bonds offered will not exceed 1,250,000 units, with a total value not exceeding 1,250,000,000 baht, with a par value of 1,000 baht per unit and a selling price of 1,000 baht per unit.

In 2024, Major Development remains committed to continuously growing its real estate business, moving forward with its business plan. The company has already launched new projects worth over 10,000 million baht, including two luxury condominium projects: MUNIQ Phrom Phong and MUNIQ Charoen Krung, along with several other projects set to launch within this year. The sales target is over 9,000 million baht and the transfer target is over 3,000 million baht in 2024, under a key strategy to transform the organization from a real estate developer to a lifestyle developer, enhancing the quality of life for consumers in all dimensions.

Investors interested in subscribing to the secured bonds can find more details at www.sec.or.th or contact the 7 securities companies managing the bond distribution:

  • Bluebell Securities Co., Ltd. Phone: 02-249-2999
  • Asia Plus Securities Co., Ltd. Phone: 02-680-4004
  • Krung Thai Xspring Securities Co., Ltd. Phone: 02-695-5000
  • Maybank Securities (Thailand) Public Company Limited Phone: 02-658-5050
  • Merchan Partners Securities Public Company Limited Phone: 02-660-6624
  • Globlex Securities Co., Ltd. Phone: 02-687-7543
  • UOB Kay Hian (Thailand) Public Company Limited Phone: 02-659-5272-73

Warning: Investment carries risks. Investors should study and understand the nature of the product, return conditions, 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 submitting the information statement and draft prospectus to the SEC, which is not yet effective. Allocation is subject to the distributor's discretion, and details are according to the distribution conditions specified in the draft prospectus.