SENA issues debentures of 1.2 billion baht, holds 4.40% interest, sells major institutions, 20-22 Sept. : InfoQuest

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Ms. Kesara Thanyalakpark Managing Director SENA Development Public Company Limited (SENA) revealed that the company is preparing to issue and offer a new series of debentures No. 3/21, with the total amount of debentures offered for sale not exceeding 1,200 million baht to institutional investors. and/or high net worth investors The debentures have a maturity of 3 years and 6 months, with a fixed interest rate of 4.40% per annum, payable every 3 months.

The debentures are unsubordinated, unsecured and have a debenture holder representative. It is expected to open for subscriptions between 20 – 22 September 2021 through 5 financial institutions, namely Krung Thai Bank (KTB), CIMB Thai Bank (CIMBT), Kiatnakin Phatra Securities, Securities and Exchange Commission. Nomura Pattanasin and Krungthai Seamico Securities

Objectives of this issuance of debentures to prepare for the repayment of the bonds that will mature and to repay long-term loans within February 2022. Due to the volatile economic situation at present This makes the company have to plan cash flow management with more prudence. Therefore, some debentures were offered for sale before the original debentures were due. To diversify the risk in the event that the market may be very volatile in the future

Currently, TRIS Rating Co., Ltd. has rated the Company and its bonds at “BBB” level. The “stable” outlook reflects the financial strength of the business. and able to develop real estate projects in accordance with the goals of both projects in Bangkok and other provinces In particular, the business partner Hankyu Hanshin Properties Corp. is ready to invest in every project of Sena. This makes the company have sales and transfers coming in continuously. This reflects the direction of earnings that still has a significant growth rate.

For the direction of the company’s operations, there has been a review and reduction of plans to launch new projects this year to 14 projects with a total value of 10,565 million baht from the original plan of 18 projects worth 16.7 billion baht. The company launched a new project, the SENA KITH Westgate-Bangbuathong project. And in the second half of this year, in Q3/21, 4 projects were launched, worth 2.3 billion baht, which has already opened the SENA KITH Ladkrabang-Chalongkrung Phase 1 project and is preparing to open Phase 2 in September, along with another 2. The remaining projects in 4Q21 will have the highest number of projects launched, 9 projects worth 7 billion baht. In the past, SENA KITH brand projects that have been launched during the past year have been well received. The company expects that from October 64 onwards, if the COVID-19 situation Unravel the overall picture of the real estate market will begin to recover. After the buyers became confident in the situation and returned to buy more homes.

while sales this year The company was reduced to 7,111 million baht from 11 billion baht after the company decided to reduce the number of new project launches. Some projects have been postponed to launch in 2022 due to the COVID-19 situation. Affects purchasing power. In the past 8 months (Jan.-Aug. 20), the company has already achieved sales of 3.2 billion baht. The transfer amount of the company has been reduced to 6,943 million baht. from the original target 10 billion baht

Considering that due to the impact of the worker camp closure measures, some projects in the second half of the year have to be postponed, especially 2 projects, namely the Nich Mono Mega Space Bangna project worth 2,400 million baht and the Nich Mono Independence project worth 849 million baht. baht that there will be some delay in transferring the room to the customer but will begin to gradually return to transfers at the end of the 3rd quarter of 2021, continuing until the 4th quarter of the year. At present, the total revenue from backlog of 7,052 million baht can be realized this year, 3,689 million baht. In the past, the company has organized a special selling price campaign. and various promotional campaigns to speed up the draining of the stock continuously to generate income for the company

By InfoQuest News Agency (10 Sept. 64)

Tags: SENA, debentures, Thai stocks, real estate, Kesara Thanyalakpark, Sena Development

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