LPN Successfully Closes the Offering of 3-Year Debentures with Total Issue Size of ฿1.5Bn

L.P.N. Development Public Company Limited (LPN), the leading integrated real estate developer, which focuses on “Livable Community” concept and the quality of life of the residents, announced that it successfully offered 3-year Thai Baht debentures to the general public, with the total issue size of THB 1,500 million. The debentures received overwhelming interest from retail investors, reflecting the investors’ confidence in LPN’s leading position in real estate business with more than 30 years proven track record. The debentures offered a fixed rate of return at 3.95% per annum.

Mr. Apichart Kasemkulsiri, Chief Financial Officer of L.P.N. Development Public Company Limited, said that LPN successfully completed the offering of subordinated and unsecured debentures with debenture holders representative to the general public during 10 – 12 May 2021, reflecting the investors’ confidence in LPN’s business operation. The debentures received overwhelming interest from retail investors that LPN decided to exercise greenshoe option, bringing the total issue size to THB 1,500 million. 

The debentures also offered a satisfactory rate of return and were within an acceptable risk level, making it a great investment opportunity for investors seeking a passive income from a company with more than 30 years proven track record in real estate business. The Company and the debentures were rated ‘BBB+’ with ‘Stable’ Outlook by TRIS Rating reflecting LPN’s leading position in real estate business, LPN’s highly recognized brands in the middle to lower middle residential property segments, and good after-sales services.

“We would like to thank the investors for your support and confidence in LPN, and the financial institutions who are our arrangers. The proceeds from this debenture issuance will be used to acquire land for business expansion to achieve LPN’s performance and growth targets to continue to foster a stable and Over the past 30 years, it is a testament to LPN’s strength and commitment to sustainable business growth. We will continue to pursue sustainable business growth through maintaining our competitiveness, efficient construction management, financial discipline, and offering a wide range of products to catch up with the change in consumer lifestyle.

Bangkok Bank, Krung Thai Bank, Kiatnakin Phatra Securities and Krungthai Zmico Securities are the Joint Lead Arrangers of the transaction sustainable growth base.” Mr. Apichart said.