Property developer Sansiri sold its digital bond worth 2 billion baht via Pao Tang app in only 3.38 minutes, becoming the first digital property bond in Asia.
Srettha Thavisin, president of Sansiri pcl, said the company started to receive orders for its digital bond on Tuesday and experienced overwhelming responses from investors including retail ones who had access to the bond as planned.
The investors who missed the first opportunity can trade the bond via Pao Tang app around the clock from Jan 21.
The digital bond of Sansiri is a named, unsubordinated and unsecured bond and has a bondholders’ representative. The investment period was set at two years and six months. The redemption was scheduled for 2024. The interest rate is fixed at 3.10% yearly and the interest will be paid quarterly.
Minimum investment in the bond was set at 1,000 baht. On Nov 22, 2021, TRIS Rating rated it BBB+ (the Investment Grade). (TNA)