LPN Development Public Company Limited, or LPN, has filed a draft registration statement with the Securities and Exchange Commission to prepare the issuance and offering of high-risk, unsubordinated, secured bonds with an issuer call option, with a tenor of 1 year and 9 months maturing in 2028, at an interest rate of 5.25-5.50% per year, paying interest every 3 months. The bonds will be offered to institutional investors and/or high net worth investors. The collateral consists of vacant land, residential condominium units and commercial condominium units in Bangkok, Nonthaburi and Phetchaburi provinces. As of the bond issuance date, the value of the real estate serving as collateral, based on the value stated in the property appraisal report, relative to the outstanding balance of the bonds must be a ratio of not less than 1.50 to 1. Subscription will be open from 29 October to 30 October 2026 and on 2 November. Yuanata Thailand Securities and Dao Thailand Securities are the bond distribution managers, and Yuanata Thailand Securities is the bondholders' representative. The credit rating stands at BBB- by Tris Rating Company Limited as of 2 December 2025, and the company intends to use the proceeds from this bond offering to repay debt from the issuance of debt instruments.
L.P.N. Development Public Company LimitedLPN files to issue secured bonds at 5.25-5.50% to repay existing debt, a financing event with mixed implications.
DAOL Securities is named as a bond distribution manager for LPN's offering, a passing role mention.
