Sena Development has reported its half-year results for 2023, achieving a revenue of 3.84 billion baht with a gross profit of 1.36 billion baht, reflecting its profitability and reinforcing the company's financial strength amidst negative factors in the real estate market. The net debt-to-equity ratio remains strong at Net IBD/E = 1.27. In the second half of the year, the company is set to gradually recognize additional revenue from a backlog valued at 5.47 billion baht. To support ongoing growth, Sena plans to issue high-quality investment-grade bonds with an interest rate of [5.60-5.80%], available for sale at the end of September.

Ms. Athika Boonrodchue, Assistant Managing Director of Capital Allocation and Investment at Sena Development Public Company Limited (SENA), a leading real estate developer known for its fully solar-powered villages and energy-efficient homes, stated that the company's performance in the first six months of 2023 yielded a total revenue of 3.84 billion baht and a gross profit of 1.36 billion baht. This performance is considered satisfactory given the current real estate market conditions, which are affected by various negative factors impacting financial management among operators. In the second half of the year, the company still has a backlog of 5.47 billion baht to gradually recognize as revenue.

The figures for the first six months reflect the company's overall profitability, which remains at a good level, with a gross profit margin increase of 3.36%, particularly in the Renewable Energy sector, where revenue grew by over 20%. Additionally, the company's net debt-to-equity ratio remains very favorable at 1.27. In the second half of the year, the company continues to expand its business, recently preparing to enhance its joint venture with Japan's major real estate group, Hankyu Hanshin Properties Corp, which is currently a partner. This collaboration will strengthen the company's management efficiency and financial foundation, demonstrating global partner confidence in Sena's long-term business prospects.

Ms. Athika further mentioned that Sena is also preparing to offer a new bond series, which will be a long-term bond with specified holders, non-subordinated, and unsecured, with a representative for bondholders for both retail and institutional investors. The bonds will have a duration of 2 years and 6 months, with a fixed interest rate of [5.60-5.80%] per annum, with interest payments every three months throughout the bond's term. The company's and the bonds' credit rating is at "BBB-" with a stable outlook, as rated by Tris Rating Co., Ltd. on July 31, 2023. The bonds are expected to be offered between September 27, 30, and October 1, 2023, through 13 leading financial institutions, including Asia Plus Securities, Yuanta Securities (Thailand), Krung Thai Xspring Securities, Globlex Securities, Pie Securities, CGS-CIMB Securities (Thailand), Dao Securities (Thailand), Maybank Securities (Thailand), KGI Securities (Thailand), Trinity Securities, Bluebell Securities, Krungsri Securities, and ASL Securities. Note that bond subscriptions on Saturday and Sunday can only be made through certain bond distribution managers and channels.

This bond issuance aims to support the company's expansion and prepare funds for the repayment of maturing bonds due in October 2023. Sena expects a positive response from both retail and institutional investors, as has been the case in previous offerings, given that Sena's bonds are seen as a viable investment option for those seeking opportunities in bonds issued by financially stable companies. This bond issuance has been rated "BBB-" with a stable outlook by Tris Rating Co., Ltd. on July 31, 2023, which is considered an investment-grade level.

For investors interested in subscribing to the bonds, they can contact the following 13 financial institutions:

1. Asia Plus Securities Co., Ltd. Tel. 02-680-4004

2. Yuanta Securities (Thailand) Co., Ltd. Tel. 02-009-8351 to 59

3. Krung Thai Xspring Securities Co., Ltd. Tel. 02-695-5000

4. Globlex Securities Co., Ltd. Tel. 02-687-7543

5. Pie Securities Public Co., Ltd. Tel. 02-205-7000

6. CGS-CIMB Securities (Thailand) Co., Ltd. Tel. 02-846-8675

7. Dao Securities (Thailand) Public Co., Ltd. Tel. 02-351-1800 press 1

8. Maybank Securities (Thailand) Public Co., Ltd. Tel. 02-658-5050

9. KGI Securities (Thailand) Co., Ltd. Tel. 02-658-8888

10. Trinity Securities Co., Ltd. Tel. 02-088-9100

11. Bluebell Securities Co., Ltd. Tel. 02-249-2999

12. Krungsri Securities Public Co., Ltd. Tel. 02-638-5500

13. ASL Securities Co., Ltd. Tel. 02-508-1567

For more information, please contact the SENA Call Center at 1775 or visit https://campaign.sena.co.th/senabond/

Note: The company is in the process of filing a registration statement and draft prospectus with the SEC, which is not yet effective. Allocation is at the discretion of the bond distribution manager. The terms of the offering are as specified in the draft prospectus. Warning: Please understand the nature of the product, terms, returns, and risks before making an investment decision. Investments carry risks. Investors should study the information in the draft prospectus before making an investment decision. Investors can find details in the registration statement and draft prospectus at https://market.sec.or.th/public/ipos/IPOSDE01.aspx?TransID=638376