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MTC to Issue and Offer 3 New Tranches of Bond with Interest Rates Ranging from [4.30% - 5.00]% Per Annum, To be Offered on 16, 19, and 20 August 2024 via 14 Leading Financial Institutions

16 July 2024

Muangthai Capital Public Company Limited ("MTC") is preparing to issue and offer 3 new tranches of bond to the general public (Public Offering). The offerings include Tranche 1 with a maturity of 2 years and 4 days at a fixed interest rate of 4.30% per annum, Tranche 2 with a maturity of 3 years and 4 days at a fixed interest rate at 4.80% per annum, and Tranche 3 with a maturity of 4 years and 8 days at rate of [4.95-5.00]% per annum. The bonds are expected to be offered between 16, 19, and 20 August 2024. The company has a credit rating of "BBB+" with a "Stable" outlook by TRIS Rating.

Mr. Parithad Petampai, Deputy Managing Director, disclosed that the company has submitted a filing of the debt securities offering information and a draft invitation letter to the Securities and Exchange Commission (SEC) to issue and offer specified name debentures, non-convertible, unsecured bonds with bondholders' representative to the general public (Public Offering). The bonds include:

  1. Tranche 1 with a maturity of 2 years and 4 days, offering a fixed interest rate of 4.30% per annum.
  2. Tranche 2 with a maturity of 3 years and 3 days, offering a fixed interest rate of 4.80% per annum.
  3. Tranche 3 with a maturity of 4 years and 8 days, offering a fixed interest rate of [4.95% - 5.00]% per annum.

All three tranches will pay interest every 3 months throughout the maturity period, and they are expected to be offered for sale between 16, 19, and 20 August 2024. The company's credit rating and debt securities are at Investment Grade level "BBB+" with a "Stable" outlook by TRIS Rating, as of 12 July 2024. The proceeds from the bond issuance will be used to repay debt from previous bond issuances and/or to expand the company's loan portfolio. The company targets loan growth of 15-20% this year and aims to maintain NPLs below 3.2%, and is confident that these goals will be achieved as planned.

“For over 30 years, the company has been a part of creating equal and fair financial opportunities, improving quality of life, reducing inequality, and fostering a happy society. Additionally, MTC has continuously supported sustainable economic growth in line with the United Nations' Sustainable Development Goals (SDGs). The company is committed to operating with good governance, considering the impacts on all stakeholders, and has been recognized with an AA rating on the MSCI ESG Index in the Consumer Finance category in 2023. MTC has also been included in the SET ESG Ratings 'Sustainable Stock List' at an A level for five consecutive years in 2023, based on its performance in economic, social, and environmental dimensions. Moreover, MTC received an Excellent CG Scoring (5-star) in corporate governance from the Thai Institute of Directors (IOD) for the sixth consecutive year in 2023. In the first quarter of 2024, MTC also secured USD 92 million in financing from the Bank of China (BOC) (with all amounts fully hedged for foreign exchange risk), ensuring the company can continue its operations in line with its sustainability objectives," Mr. Parithad added.

Additionally, Mr. Parithad commented that the performance in the first quarter of 2024, the company’s outstanding loans totaled THB 147,587 million, increasing from THB 143,318 million at the end of 2023. For the first quarter of 2024, the company reported total revenue of THB 6,631 million and net profit of THB 1,389 million, rising from THB 5,630 million in revenue and THB 1,070 million in net profit in the same quarter of the previous year. Overall, for the fiscal year 2023, the company achieved total revenue of 24,526 million baht and a net profit of 4,906 million baht. Regarding the branch expansion in the first quarter of 2024, the company opened 251 new branches, bringing the total number of branches to 7,788 nationwide. Additionally, the NPL ratio for the first quarter of 2024 improved to 3.03% decreasing from 3.11% in the fourth quarter of 2023, parallel to NPL ratio, Credit Cost decreased to 3.12% from 3.67% in the last quarter of 2023, indicating a better management of credit quality.

In the meantime, the company is in the process of filing the information statement and draft invitation letter, which are not yet in effect. For general investors interested in reserving the bonds of Muangthai Capital Public Company Limited (MTC), they can do so with a minimum reservation of 100,000 baht and subsequent multiples of 100,000 baht. More details can be found at www.sec.or.th or through the following financial institutions acting as distributors:

  • Kasikornbank Public Company Limited (subscriptions for individuals can be made online via https://www.kasikornbank.com/kmyinvest, except for foreign nationals and corporate entities, who must subscribe at the bank's headquarters or branches) Tel. 02-888-8888 ext. 869.
  • CIMB Thai Bank Public Company Limited (subscriptions for individuals can be made online via the Mobile Application - CIMB Thai) Tel. 02-626-7777.
  • Asia Plus Securities Company Limited Tel. 02-680-4004.
  • Maybank Securities (Thailand) Public Company Limited Tel. 02-658-5050.
  • Krungthai XSpring Securities Company Limited Tel. 02-695-5000.
  • DAOL Securities (Thailand) Public Company Limited Tel. 02-351-1800.
  • CGS International Securities (Thailand) Co., Ltd. Tel. 02-846-8675.
  • BlueBell Securities Company Limited Tel. 02-249-2999.
  • Krungsri Securities Public Company Limited Tel. 02-638-5500.
  • Pi Securities Public Company Limited Tel. 02-205-7000.
  • Yuanta Securities (Thailand) Company Limited Tel. 02-009-8351-59.
  • Globlex Securities Company Limited Tel. 02-687-7543.
  • Thanachart Securities Public Company Limited Tel. 02-779-9000.

Note: The company is currently submitting the bond offering registration statement and draft prospectus to the SEC, which are not yet effective. The bond allocation will be at the discretion of the bond distributors, and the terms and conditions will be as specified in the draft prospectus.

Investment Warning: Please ensure you understand the product characteristics, terms, returns, and risks before making an investment decision. Investments carry risks. Investors should study the information in the draft prospectus before making an investment decision. You can find more details in the bond offering registration statement and draft prospectus at the link below.

For more information >> https://www.muangthaicap.com/announcement/mtc-bond7-2567/

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