Globlex Holding Management Public Company Limited

Puean Tae Capital, or PUEAN, is preparing to offer up to 200 million baht in secured debentures with a 4-year term and a fixed interest rate of 6.90-7.15% per year to institutional and high-net-worth investors. The company has already filed its registration statement with the Securities and Exchange Commission, or SEC. The offering is expected to take place on October 22 and October 26-27, 2026, with the debentures to be issued on October 28, 2026. This series of debentures is secured by business collateral in the form of claims against loan debtors, with the collateral value not less than 1.15 times the total value of the debentures issued and offered. The proceeds will be used as working capital to support the expansion of its loan portfolio, with a portion used to repay the existing debenture series PUEAN277A. On operating results, in 2025 the company had total revenue of 201.58 million baht and net profit of 27.57 million baht. In the first six months of 2026, it had total revenue of 103.66 million baht, up 8.22% from the same period a year earlier, and net profit of 12.03 million baht. It had loan debtors totaling 811.27 million baht, maintained a low NPL level of 4.89%, and saw its interest-bearing debt-to-equity ratio fall to 2.12 times, with a network of 26 branches nationwide. Dao (Thailand) Securities is the lead underwriter, together with Globlex Securities, Pi Securities, Merchants Partners Securities, and Trinity Securities. Bangkok Bank is the debenture registrar, and Globlex Securities is the debenture holders' representative.