Prospect Development (PD), a subsidiary of Munkong Housing Public Company Limited, which develops and manages warehouse and factory leasing projects, is preparing to issue a registered, non-subordinated, unsecured bond with a representative for bondholders for the second offering of 2024. This will be available to institutional investors and/or large investors from October 7-9, 2024, with a maturity date of June 10, 2026. The bond has a term of 1 year and 8 months and a fixed interest rate of 7.40% per annum, with interest payments every three months throughout the bond's term. The company has received a credit rating of 'BB-' with a 'stable' outlook from Tris Rating. The purpose of this bond issuance is to prepare funds for the repayment of maturing bonds.


Ms. Rachanee Mahatdechkul, Managing Director of Prospect Development Co., Ltd. stated, "The performance in the first six months of 2024 has shown remarkable growth. The company has total revenue of 338.29 million baht, an increase of over 41%, and EBITDA has risen by 52%, surpassing the same period last year. Notably, we have signed new tenant contracts exceeding our target at 155,000 square meters, and we aim to close additional new tenant deals to reach 200,000 square meters by the end of this year. The positive response from both Thai and foreign investors reflects Thailand's potential as a significant manufacturing base, attracting a network of operators across various industries to continuously utilize our warehouses and factories. We are confident that the strengths of our projects, including premium-grade A building quality, benefits from the Free Zone, One Stop Service, and strategic locations such as Bangna-Trad, Wang Noi, and Bang Pakong, will earn the trust of both existing and new tenants, driving sustainable growth for the company in the future."

To focus on business growth, with an occupancy rate exceeding 90% across all projects and a diverse tenant base in stable industries, the company is preparing to launch two new projects: BFTZ 8 Theparak, featuring a Ready Built building with a rental area of 35,000 square meters, and BFTZ 9 Wang Noi, offering both Ready Built and Built-to-Suit buildings with a rental area of 35,000 square meters. This will pave the way for expanding total rental space to exceed 2,000,000 square meters by 2028, up from the current total of approximately 1,230,000 square meters.

Additionally, there are plans to sell assets into the PROSPECT REIT, comprising three projects: BFTZ 1 Bangna-Trad Km. 23, BFTZ 2 Theparak, and BFTZ 3 Bangna-Trad Km. 19, during the first quarter of 2025, with a total rental area of approximately 221,678 square meters, valued at over 3.3 billion baht.

Investors interested in the bonds can find more details at www.sec.or.th or contact the financial institutions managing the bond distribution, including Dao Securities (Thailand) Public Company Limited, Bluebell Securities Co., Ltd., Beyond Securities Public Company Limited, Globlex Securities Co., Ltd., KGI Securities (Thailand) Public Company Limited, Krung Thai Expanding Securities Co., Ltd., UOB Kay Hian (Thailand) Public Company Limited, and Phai Securities Public Company Limited.