SC Asset exceeds debenture target in 2024, demonstrating strength amid market volatility
SC Asset Corporation Public Company Limited (SC), Thailand’s leading property developer renowned for creating innovative Living Solutions, extends its sincere appreciation to investors for exceeding its debenture target of 2.5 billion baht. This achievement comes amid fluctuations in the Thai debenture market since the close of 2023, showcasing SC Asset’s robust strength and leadership in the Thai property market.
Mr Attapol Sariddipuntawat, SC’s chief corporate officer, provided insights into the successful debenture offering, which was presented in two options – a 2-year debenture offered at an interest rate of 4.06% and a 3-year debenture at an interest rate of 4.43%. These debentures, personalized with the holder’s name, fall under the unsubordinated, unsecured type with bondholder representation to institutional investors and/or major investors. The offering was done through major financial institutions such as Kasikorn Bank, CIMB Thai Bank, TMBThanachart Bank and Kiatnakin Phatra Securities, spanning January 16-18, 2024.
As of December 15, 2023, TRIS Ratings assessed the debentures as carrying credit rating of “BBB+” with a stable outlook. The offering received significant interest from institutional investors, with demand exceeding 1.5 times the allocated amount. Combined with robust participation from major investors, the total investment demand exceeded the target of 2,500 million baht.
In the face of market volatility experienced since late 2023, SC’s solid financial standing and leadership in the residential market, spanning from mid to premium segments, remain unwavering. This positive response to the debenture offering reinforces the company’s commitment to achieving sustained growth in total revenue.
Mr Attapol said: “The company extends its sincere appreciation to institutional investors and all stakeholders for placing trust in our debentures. Special acknowledgement goes to Kasikorn Bank, CIMB Thai Bank, TMBThanachart Bank and Kiatnakin Phatra Securities, our essential partners in the success of our debenture offering. The funds raised will be allocated for their intended purpose – repaying maturing debentures and as working capital to advance our pursuit of sustained growth.”
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