WHA Corporation Public Company Limited (WHA Group) has received significant demand to bond issuance No.2/2022 with total offerings of Baht 6,500 million resulting in double oversubscription. This reflects solid Investor confidence in the Company's strong fundamentals, robust financials, and definite business expansion plans. Ms. Jareeporn Jarukornsakul, Chairman and Group CEO, is confident that the Company will continue to grow in all 4 business hubs by focusing on business expansion in Thailand, exploring new opportunities in neighboring countries as well as utilizing smart technologies and innovation to boost our operations further. Logistics Business shall continue develop new projects capturing high-growth industries' demand and focus on building new strategic long-term partnerships. Meanwhile, Industrial Estate Business shall continue business expansion both Thailand and Vietnam. For Utilities Business, the Company shall leverage its expertise to create new value-added products offering fully integrated water solution. For Power Business, innovative renewable energy solutions will be developed and initiated. Meanwhile, Digital Business will become the leader in integrated digital innovations and technologies across all business hubs. Furthermore, the asset monetization to WHA Premium Growth Freehold & Leasehold Real Estate Investment Trust ("WHART") and Hemaraj Leasehold Real Estate Investment Trust (HREIT) will be in Q4 2021 as planned.
Ms. Jareeporn Jarukornsakul, Chairman and Group CEO of WHA Corporation Public Company (WHA Group), reveals that the Company bond issuance No. 2/2022 totaling Baht 6,500 million, offering during 25, 28 - 29 March 2022 via 4 underwriters, namely Kasikorn Bank, Siam Commercial Bank, UOB Bank and CIMB Thai Bank, has received strong demand of Institutional Investors and HNW. There are 2 tranches of bond: the first with 3-year term matured in 2025 amounting Baht 2,500 million; and the second with 5-year term matured in 2027 amounting Baht 4,000 million. The fixed interest rates for 2 bond tranches are 2.08% and 2.90%, respectively. The successful bond issuance also reflects Investors' confidence in WHA Group's robust business expansion plans, committed management, strong fundamentals, solid financial position, demonstrated financial discipline and efficient financial management. With the proceeds raised from the issuance, the Company shall repay existing debt, and/or utilize for working capital/capital expenditure to support its business operations.
Tris Rating Co. has assigned WHA Group's bond No. 2/2022 "A-" rating with "Stable" outlook, as of 14 March 2022. This rating reflects strong competitive position and track record in Logistics Business and Industrial Estates Business. The rating also incorporates a sizable base of recurring income from Rental Properties Business, Utilities Business, and Power Business as well as a financial flexibility from the ability to monetize its assets to real estate investment trusts (REIT).
Ms. Jareeporn said "In 2021, the Company will continue to grow in all 4 business hubs by focusing on business expansion in Thailand, exploring new opportunities in neighboring countries as well as utilizing smart technologies and innovations to boost our operations further. For Logistics Business, the Company shall continue develop new projects capturing high-growth industries' demand, especially in the E-Commerce, Healthcare and Consumer products as well as shall build new strategic long-term partnerships which recently, the Company has signed MoU with Samitivej Hospital for Cooperation on Digital Healthcare through new WHAbit digital application. For Industrial Estates Business, the Company shall continue developing both in Thailand and Vietnam while pursuing its efforts to enlarge its product offering to increase recurring revenue such as the supply of nitrogen gas in its industrial estates. In Utilities Business, the Company shall leverage its expertise to create new value-added products offering fully integrated water solution which will continue to grow its Utilities business both inside and outside the Group's industrial estates and both in Thailand and Vietnam. In terms of its Power Business, Innovative renewable energy solutions, in particular solar energy, will be developed and initiated such as Peer-to-Peer (P2P) Energy Trading Platform and Battery Energy Storage System (BESS), which stores energy and generates solar power as an alternative solution; and the Company's Utilities and Power Business will also look for new projects and explore potential mergers & acquisitions (M&As). Pertaining to its Digital Platform business, the Company has implemented the expansion of FTTx and determines to develop cutting-edge digital services to increase customers' competitiveness and to become the leader in integrated digital innovations and technologies across its business hubs.
Moreover, the Company will monetize assets to WHA Premium Growth Freehold & Leasehold Real Estate Investment Trust (WHART) and Hemaraj Leasehold Real Estate Investment Trust (HREIT) in Q4 2021, as planned.
As an ongoing measurable benchmark according to its slogan, WHA Group shall continue to strive, across all businesses, to be "Your Ultimate Solution Partner" by creating new value-added products and services via innovative solutions and business platforms, combined with an infrastructure base."