“Singha Estate” is set to issue 3-year debentures

Editorial Staff

“Singha Estate” is set to issue 3-year debentures with interest rates between 5.00 - 5.10% per year and payable every 3 months, highlights the 'investment grade' rating.

Singha Estate Public Company Limited or ‘S’ submits a filing request for the public offering of debentures with maturity of 3 years with an interest rate of 5.00 – 5.10% per year, and are expected to be offered during August 2023.

The company was assigned rating at "BBB+" with a "stable" rating outlook, whereas the debenture rating was assigned an investment grade" of “BBB", as affirmed by TRIS Rating Co on June 9, 2023.

Singha Estate has submitted the registration statement and draft prospectus to the Securities and Exchange Commission (SEC) in order to offer unsubordinated, and unsecured debentures with a debenture holders' representative in the name-registered certificate. The 3-years debentures with an interest rate between 5- 5.10% per year and payable every 3 months are expected to be offered to the general investor between August 8 – 10, 2023.

The company has appointed 4 leading financial institutions as underwriters of the debentures, consisting of Bangkok Bank, Krung Thai Bank, Kasikorn Bank, and Kiatnakin Phatra Securities, which the final interest rate will be announced again in July.

Mrs. Thitima Rungkwansiriroj, chief executive officer at Singha Estate Public Company Limited or ‘S’ expected that Singha Estate debentures will be received excellent feedbacks from investors with assurance in the brand "Singha Estate,” both from the strength of the business as a leading real estate operator with an impregnable business structure, financial position, and operations under corporate governance that aims to create the sustainable growth.

Singha Estate operates a comprehensive property development business. Hospitality Business under management of ‘S Hotels and Resorts’ (SHR), a subsidiary of Singha Estate, has delivered an outstanding performance in the previous year with current portfolio owning 38 hotel locations of total 4,552 room keys located in major tourist destinations spread across 3 regions and 5 countries.

SIRANINN RESIDENCES

Singha Estate announces a net profit of 71 million baht from its Q1/2023, a remarkable result reversed from 126 million baht loss recorded in the same period a year earlier. Significantly from the expansion of hospitality business given all countries as a global have already re-opened.

The hospitality business generated 2.54 billion baht from sales and services, marking an increase of 51% year-over-year with a steady recovery direction. Meanwhile, the residential business plans to launch 5 new horizontal residential projects with a total project value of more than 10 billion baht.

As for the other two business units, commercial business and industrial estate and infrastructure business, are also set to significantly contribute to its growth with steady upwards trend this year. Singha Estate is thus now confident that it will achieve the revenue target of 16.7 billion baht in 2023.

The Singha Estate debentures are expected to be offered to investors between August 8 – 10, 2023.