Bangkok, September 25, 2025 – Asset Five Group Public Company Limited (A5), a leading luxury property developer, has filed the prospectus with the Securities and Exchange Commission (SEC) for its second debenture issuance of 2025. The unsubordinated, unsecured debentures with bondholder representative will have a tenor of 1 year and 9 months, maturing in 2027, with a fixed coupon rate of 7.50% per annum. The issuance will be offered to institutional investors and/or high-net-worth investors, with subscription expected between November 4–6, 2025, and proceeds to be used for new project development and business-related expenses.
Currently, A5 has two ongoing projects with a combined value of THB 2.928 billion: VANA Ratchapruek–Westville, with over 70% of its launched phase sold, and CINQ ROYAL The Eighteen Bangna KM.7, with sales exceeding 40%. Both projects have been well received by high-end customers seeking not only residences but also symbols of success and long-term legacy.
Looking ahead, A5 is preparing to launch a new brand, Cinquième, in Q4/2025, building upon the success of Cinq Royal and Vana Residence. The new brand will reinforce A5’s position as a leader in luxury real estate, emphasizing privacy, uniqueness, and long-term value.
For the first half of 2025, A5 recorded total revenue of THB 697.78 million and net profit of THB 101.23 million, following total revenue of THB 1.90 billion and net profit of THB 453.28 million in 2024. The success of the first debenture issuance in 2025, which exceeded expectations, reflects strong investor confidence in A5’s vision and financial fundamentals.
Ms. Nichaorn Trithipharat, Chief Financial and Accounting Officer of A5, stated:
“Our goal is to maintain financial strength while expanding new projects that meet the needs of the high-end market. This debenture issuance is an opportunity for investors to be part of A5’s future growth.”
The second debenture issuance of 2025 will be offered through four lead arrangers:
- Pi Securities Public Company Limited
- Globlex Securities Company Limited
- Beyond Securities Public Company Limited
- Merchant Partners Securities Public Company Limited
with Bangkok Bank Public Company Limited as the registrar, and Pi Securities Public Company Limited as the bondholders’ representative.
Proceeds will be used for working capital and to enhance liquidity, supporting business expansion and sustainable growth.
