BAM sold debentures as targeted at 5,550 million baht, reinforcing investor confidence

BAM revealed that investors bought 4 series of debentures, achieving the target amount of 5,550 million baht through Bank of Ayudhya, Kasikorn Bank, and CIMB Thai Bank and indicated that the debenture subscription amount reflects investor confidence in the company’s capability to run its businesses.

Mr. Bundit Anantamongkol, the Chief Executive Officer of Bangkok Commercial Asset Management Public Company Limited or BAM stated: “On May 12 and 15-16, 2023, the company offered debentures, which received considerable interest from investors, and sold them in line with the target of 5,550 million baht, having Bank of Ayudhya Public Company Limited, Kasikornbank Public Company Limited, and CIMB Thai Bank Public Company Limited as the underwriters of the debentures. TRIS Rating Co., Ltd. has affirmed the company rating for BAM at “A-” on April 19, 2023.”

Mr. Anantamongkol further added: “For the debentures issued on this occasion, they are name-registered, unsubordinated, unsecured, and with debenture holders' representatives, totaling 4 series which consist of a 3-year tenure with an interest rate of 3.24% per year, a 5-year tenure with an interest rate of 3.55% per year, a 7-year tenure with an interest rate of 3.60% per year, and a 10-year tenure with an interest rate of 4.22% per year. The debentures were offered to institutional investors and/or high-net-worth investors, which have been well received.

The Chief Executive Officer of BAM also said: “BAM's debentures had attracted attention from investors reflecting their investment needs and confidence in the company's business operations. The company will use the proceeds from this debenture offering to invest in purchasing assets and in related projects to expand the business and to enhance the liquidity of the company. In the first quarter of 2023, financial institutions auctioned out non-performing assets of over 60,000 million baht, an increase in the supply of 373% from the first quarter of 2022, out of which BAM has already acquired the principal balance of over 9,000 million baht. It is expected that financial institutions will gradually auction out more NPLs and NPAs in 2023.”