Muangthai Capital's Refinancing of Maturing Debentures Unlikely a Concern — Market Talk

Muangthai Capital's refinancing of maturing debentures is unlikely a concern, ttb wealth securities' Rawisara Suwanumphai says in a research report. The Thai company sees demand for its new debentures as strong and expects full subscription. Overall demand for bonds issued by A-credit-rated companies like Muangthai Capital remains robust, the analyst notes. Also, refinancing would probably help lower the non-bank financial institution's funding costs. However, the brokerage cuts its 2026-2028 earnings forecasts for Muangthai Capital by 4%-5% to partly reflect slower loan growth assumptions. It lowers the stock's target price to 37.00 baht from 45.00 baht with an unchanged buy rating. Shares are 0.85% higher at 29.75 baht. (ronnie.harui@wsj.com)