Central Retail Corporation (CRC) has received overwhelming demand for its first issuance of bonds worth 5 billion baht from investors, exceeding the initial target by almost three times.
The bond issuance provided an alternative for institutional investors and large-scale investors seeking strong and stable returns.
The country's leading multi-category retailing platform plans to exercise a greenshoe option of 2 billion baht, bringing the total value of the bonds to 7 billion baht in order to serve strong demand.
The bond issuance comprises three types: a three-year bond with an annual interest rate of 3.26%; a five-year bond with annual interest of 3.53%; and a seven-year bond with annual interest of 3.84%.
CRC appointed Bangkok Bank, Bank of Ayudhya and Kasikornbank as distributors of the bonds.
The company aims to strengthen its financial potential, increase liquidity and decrease costs by raising funds, while also supporting expansion plans for sustainable business growth, said chief executive Yol Phokasub.
"On behalf of CRC, I would like to express my gratitude to all institutions and investors who have shown confidence, support, and overwhelming interest in our first bond issue, as well as financial institutions that have played an important role in successfully distributing our first bond sales," he said.
"We are committed to strengthening our business and building sustainable growth across all sectors to continue to assure you that we are deserving of your trust."
Tris Rating gave CRC the highest possible rating in the retail sector at AA-, with a stable outlook.
CRC received a transparency score of "excellent" or five stars for the third consecutive year from the Corporate Governance Report survey.
The firm also received an AAA score for its SET ESG rating from the Stock Exchange of Thailand in 2023.