The debentures offered are unsubordinated and guaranteed with a debenture holders’ representative with a 3-year tenure and a fixed coupon rate of 4.75 per cent per annum. Risland has appointed Kasikornbank as the sole lead arranger and bookrunner for this offering.
The total issue size is Bt1.5 billion, placed to institutional investors only. The debentures are rated “AA(tha)” by Fitch Ratings (Thailand) Ltd.
This is the first debenture issuance for Risland since the company officially started operations in Thailand in June 2017. The company is a real estate developer with the portfolio of both single house and condominium projects. Risland's current portfolio consists of 1 single house project called Lake Serene and 4 condominium projects, namely Artisan, The Art, Cloud Thonglor, and Cloud Asoke.
Speaking after the successful debentures launch, president Zhang Liangang said: “This first time issuance of Risland’s Thai Baht debentures marks another milestone for the company and demonstrates the warm welcome from market participants. As Risland plans to launch several projects this year, it also establishes more market awareness about our presence to the general public and debenture investors. The company’s vision is to provide good houses at affordable prices for everyone in Thailand. We hope to continue the good support from investors for the next transaction.”