Muangthai Capital (MTC) is preparing to offer a new series of bonds in three tranches, with interest rates ranging from 3.90% to 4.60% per annum. The bond offering is expected to take place on January 23, 24, and 27, 2025, through 18 leading financial institutions.

Muangthai Capital Public Company Limited (MTC) is preparing to issue and offer a new series of bonds in three tranches to the general public. The first tranche will have a maturity of 3 years, 4 months, and 16 days, with a fixed interest rate of 3.90% per annum. The second tranche will have a maturity of 5 years and 29 days, with a fixed interest rate of 4.20% per annum. The third tranche will have a maturity of 7 years and 27 days, with a fixed interest rate of 4.60% per annum. The bonds are expected to be offered between January 23-24 and 27, 2025. The bonds have been assigned a credit rating of "A- (tha)" by Fitch Ratings (Thailand) as of November 14, 2024.

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:

Tranche 1: Tenor of 3 years, 4 months, and 16 days, and a fixed interest rate of 3.90% per annum.
Tranche 2: Tenor of 5 years and 29 days, and a fixed interest rate of 4.20% per annum.
Tranche 3: Tenor of 7 years and 27 days, and a fixed interest rate of 4.60% per annum.

The final interest rates will be announced at a later date. All three tranches will pay interest every three months throughout their respective tenors. The offering is expected to take place between January 23–24 and 27, 2025. As of September 12, 2024, the company’s credit rating and, as of November 14, 2024, the bonds' credit rating were both affirmed at Investment Grade at A-(tha) with a "Stable" outlook by Fitch Ratings (Thailand). The proceeds from this issuance will be used to repay existing debt (roll-over). The company is confident that its financial performance in 2024 will meet the set targets, with a goal of achieving loan portfolio growth of 15-20% while keeping the NPL ratio under 3.20%, all while providing loans responsibly and fairly.

"The company continues to focus on conducting its business with good governance, considering the impacts on all stakeholders, and has been recognized for its efforts. In 2023, the company received a rating of AA in the MSCI ESG Index in the Consumer Finance sector. Additionally, MTC has been included in the SET ESG Ratings for six consecutive years, receiving a rating of AAA in 2024 from the Stock Exchange of Thailand. The company also received an Excellent CG Scoring (5-star) for corporate governance in 2024 from the Thai Institute of Directors (IOD) for the seventh consecutive year. This reflects the company's leadership in the microfinance industry at a world-class standard through collaborations with global financial institutions such as the Japan International Cooperation Agency (JICA), Germany’s KfW DEG, and the International Finance Corporation (IFC) from the World Bank Group. MTC also became the first non-bank financial institution (NBFI) in Thailand to issue social bonds worth USD 335 million, which were offered to international institutional investors."

Mr. Parithad Petampai further stated that for the third quarter of 2024, the company had outstanding loans totaling 159,323 million baht as of September 30, 2024, representing an increase of 11.17% from the end of 2023, when outstanding loans amounted to 143,318 million baht. For the third quarter of 2024, the company reported total revenue of 7,170 million baht and net profit of 1,491 million baht, an increase of 16.03% compared to the same quarter last year, when revenue was 6,299 million baht and net profit was 1,285 million baht. For the first nine months of 2024, the company reported total revenue of 20,633 million baht, up 13.83% from the same period last year, with net profit increasing by 14.42% to 4,325 million baht. Regarding branch expansion, the company opened an additional 494 branches since the end of 2023, bringing the total number of branches to 8,031 as of the end of the third quarter of 2024, covering all regions of the country. Furthermore, in the third quarter of 2024, the company maintained its Non-Performing Loan (NPL) ratio at 2.82%, which continued to improve from 3.11% at the end of 2023. The company also reduced its credit cost to 3.11%, down from 3.67% at the end of 2023.

The company is currently in the process of submitting the filing and draft invitation letter, which are not yet effective. For general investors interested in subscribing to debentures of Muangthai Capital Public Company Limited (MTC), the minimum subscription amount is 100,000 baht, with increments of 100,000 baht. More details can be found at www.sec.or.th or by contacting the financial institutions that act as the bond issuance managers as listed below.

Bangkok Bank Public Company Limited (except for Micro branches) Tel. 1333 or subscribe via the Bualuang mBanking app for individual general investors.
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. Including, Kasikorn Securities Public Company Limited, as a sales unit of Kasikornbank Public Company Limited.
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 ext. 1.
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.
Kiatnakin Phatra Securities Public Company Limited Tel. 02-165-5555
Beyond Securities Public Company Limited Tel. 02-820-0100
UOB Kay Hian (Thailand) Securities Public Company Limited Tel. 02-659-5272-73

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 from the QR code below.

QR Download

Prospectus

Prospectus for the Bond Offering and Subscription