‘Singha Estate’ announces 2-year and 3-year debenture offerings through four leading financial institutions from January 7-9 with attractive interest rates of 4.50% and 5.00% per annum, confident in strong investor demand following solid nine-month performance

Singha Estate has announced the terms for its new debenture offerings, comprising two series: a 2-year debenture with an interest rate of 4.50% per annum and a 3-year debenture at 5.00% per annum. The debentures will be available for public subscription from January 7-9, 2025. The financial institutions managing the offering are confident that the debentures will attract strong investor interest, citing the strong market recognition of the "Singha Estate" brand both domestically and internationally, alongside the company’s consistent growth trajectory.

Bangkok, December 18, 2024 – Singha Estate Public Company Limited (SET: S), a leading global real estate developer and investor, has announced the interest rates for its latest series of unsecured, unsubordinated debentures. The offering includes two series: a 2-year debenture with an interest rate of 4.50% per annum and a 3-year debenture with an interest rate of 5.00% per annum, with interest payments made every three months. These debentures will be available for public subscription from January 7-9, 2025, through four leading financial institutions: Krungthai Bank, Kasikorn Bank, Kiatnakin Phatra Securities, and CIMB Thai Bank.

The debentures have received a credit rating of “BBB” (Investment Grade) from TRIS Rating as of November 21, 2024. The company’s corporate credit rating stands at “BBB+” with a “Negative” outlook. According to TRIS Rating, the ratings reflect the strong quality of Singha Estate’s hotel assets, its well-regarded residential brands, and the stable income generated from its commercial real estate operations.

Singha Estate is a diversified real estate developer with a broad portfolio spanning several key sectors, including hotel operations through its subsidiary ‘S Hotels and Resorts (SHR).’ SHR has delivered exceptional performance over the past nine months, with a portfolio of 36 hotels and 4,290 rooms located in prime tourist destinations across three regions in five countries. In addition to its hotel business, Singha Estate is a prominent player in residential real estate, developing both high-rise and low-rise projects, including single-detached homes, condominiums, and home offices. The company also has a strong presence in commercial real estate, focusing on shopping centers and office buildings for lease—sectors that offer significant growth potential and attractive returns on investment. Singha Estate is further expanding its footprint in the industrial estate and infrastructure sectors, which continue to show strong growth prospects.

Mrs. Thitima Rungkwansiriroj, Chief Executive Officer of Singha Estate Public Company Limited (SET: S), expressed: The company is confident that its upcoming debenture offering will generate strong investor demand, similar to its previous successful offerings. This confidence stems from the robust growth potential of the "Singha Estate" brand across multiple sectors, including residential and commercial real estate, as well as the hotel business both domestically and internationally. Singha Estate’s performance over the past nine months demonstrates continued growth in line with its strategic plan, even amid a highly competitive real estate market.

"We are confident that our business strategy, expansion plans, and the company’s strong position as a leading real estate developer—with a solid business structure, strong financial standing, commitment to corporate governance, and a well-structured maturity period and attractive returns —will ensure strong demand for this debenture offering," said Ms. Thitima.

The financial institutions managing the debenture issuance share this optimism, noting that Singha Estate’s strong operational results in the first nine months of 2024 have demonstrated its continued growth and resilience. The company posted total revenues of 11.43 billion baht, representing a 13% growth year-on-year. Moreover, the "Singha Estate" debentures offer attractive returns, with interest rates of 4.50% and 5.00% per annum, and a well-structured maturity profile. With an "Investment Grade" credit rating, these debentures are an excellent choice for investors looking to invest in a company with a proven track record of success in real estate development.

Singha Estate debentures will be available for subscription on January 7-9, 2025, through four leading financial institutions nationwide:

• Krungthai Bank: Tel. 02-111-1111 (Individual investors can subscribe online via Money Connect by Krungthai on the Krungthai NEXT application.)

• Kasikorn Bank: (Individual investors can subscribe online via https://www.kasikornbank.com/kmyinvest, except foreign nationals and juristic persons can subscribe through the head office and branches.) Tel. 02-888-8888, ext. 819.

• Kiatnakin Phatra Securities (including Kiatnakin Phatra Bank as the sales agency of Kiatnakin Phatra Securities): Tel. 02-165-5555, and online subscriptions via the DIME! application.

• CIMB Thai Bank: Tel. 02-626-7777 (Individual investors can subscribe online via the CIMB Thai application.)

The company is currently in the process of submitting the registration statement and draft prospectus to the Securities and Exchange Commission (SEC), which hasn’t been effective. For general investors interested in subscribing to the debentures, more details can be obtained from the draft prospectus at www.sec.or.th  

Disclaimer: Investing is risky. Investors should study and understand product characteristics, return conditions and risks before making an investment decision.