Siam Asset Public Company Limited, or SA, is preparing to offer three tranches of unsubordinated debentures with fixed interest rates between 7.15% and 7.45% per year. The first tranche has a maturity of 2 years and 1 month with an interest rate of 7.35% per year, maturing in 2028. The second tranche has a maturity of 2 years and 9 months with an interest rate of 7.15% per year, and the third tranche has a maturity of 3 years and 3 months with an interest rate of 7.45% per year. The second and third tranches are secured under the conditions specified in the rights terms and the prospectus. Mr. Sutthinan Mankong, Chief Financial and Accounting Officer of SA, disclosed that the company plans to use part of the proceeds to repay existing debentures due in November 2026, as well as to repay other debts, with the remainder used as short-term working capital to support business operations. The company has been assigned an issuer credit rating of BB with a Negative outlook by TRIS Rating as of July 22, 2026. In the past, the company has been able to pay interest and repay the principal of its debentures in full and on schedule, including in July 2024 when it repaid two tranches of debentures totaling approximately 1.3 billion baht, which included a tranche due on July 28, 2024 worth 675.4 million baht. The funds raised this time will also help maintain liquidity for the company to continue developing its hospitality business and related services, including hotels, restaurants, wellness, and lifestyle, in order to diversify revenue sources and generate more recurring income.
Siamese Asset Public Company LimitedSA is issuing three tranches of debentures at 7.15-7.45% to refinance debt and fund working capital, but carries a BB Negative outlook.
