Ngern Tid Lor Public Company Limited, or TIDLOR, unveils its new debenture series to raise capital to battle interest rate spikes and move the business forward. The bonds offer an average fixed interest rate of 3.14% per annum, exclusively proposed to institutional investors and high net worth investors on 8-9 and 12 September 2022. TRIS Rating ranks the debentures at A with a stable outlook, reinforcing the strong business potential.
Ngern Tid Lor Public Company Limited, or TIDLOR, led by Piyasak Ukritnukun, Managing Director, stated, “The company sets the launch of the new bond (4/2022) issue on 8-9 and 12 September 2022 for institutional investors and high net worth investors. The Registered Unsubordinated and Unsecured Debentures have a Debenture holders' Representative consisting of a 3-year debenture no more than 2025 with fixed interest at 3.14% per year with interest paid every 6 months valued at 6.5 billion baht, comprising 5.5 million units of debentures offered for sale worth not over 5,500 million baht and reserve debentures not exceeding 1 million units, worth not over 1,000 million baht.”
The debenture received an issue rating of “A” and “Stable” outlook from TRIS Rating Company Limited on 5 September 2022. The issuance of the bonds reaffirms the company’s outstanding performance in the recent period and the entity’s acclaim as the leading credit loan and insurance brokerage provider under the brand “TIDLOR Insurance Broker” with the second-largest market share among accident insurance brands focusing on under-banked customers in Thailand. The issuance of the 4/2022 debentures has four transaction arrangers, namely Bank of Ayudhya Public Company Limited, KASIKORNBANK, Kasikorn Securities, Kiatnakin Phatra Financial Group, and Kiatnakin Phatra Bank.
“Issuance of the debenture is expected to receive a good response from institutional and high net worth investors as they help strengthen capital, counter rising interest rates and support business operations with debt payment and liquidity,” Piyasak continued.
The TIDLOR Managing Director further stated that, “The company is committed to expansion and is adding 300 more branches. In the past six months, the company has already added 198 of these branches, bringing its branch total to 1,484 nationwide. At the same time, the company continues to develop digital technology and financial innovation to drive the business forward and differentiate it from competitors.”
As of end Q2/2022, nearly 400,000 TIDLOR Cards have been issued. The cards are recognised as an innovation enabling convenience for customers to withdraw cash according to their approved credit line from over 50,000 ATMs nationwide. TIDLOR Cards continued to be widely used outside branch working hours throughout 2021, with over 1 million transactions recorded. Meanwhile, the Company also aims to continue the brand-building campaign under “TIDLOR Insurance Broker” and to grow its insurance portfolio. The company established a plan to expand the vehicle loan portfolio by 23-28% and grow non-life insurance premiums by 30-35% this year. In Q2/2022 the company generated a net profit of 981 million baht, up by 26% Y-o-Y and 4% Q-o-Q, with total revenue of 3,616 million baht, a 24% increase Y-o-Y and 8% Q-o-Q.