For 2017, SSI plans a consolidated revenue target of 2.108 trillion VND and consolidated profit before tax of 1.058 trillion VND. (Photo: f319.com )Hanoi (VNA) - Saigon SecuritiesIncorporation (SSI) has decided to issue bonds worth 300 billion VND (13.3million USD) to financial and credit institutions.
The company will issue 600 two-year bonds at a par value of 500 million VND each.This is a type of non-convertible bond with secured property and prioritypayment as other secured debts, issued and paid in VNĐ, and issued in the formof book entries.
The interest rate is calculated on the basis of one-year interests forindividual customers of five banks – Vietcombank, Vietinbank, BIDV, Agribankand VIB – plus amplitude. The amplitude in the first 12 months is 1 percentannually; and from the 13th to the 24th month it is 1.2 percent. Bonds willbe paid only once, at the time of maturity of the bonds; bond interest will bepaid once a year.
The 300 billion VND mobilised capital isexpected to be used for underwriting, investing in listed bonds, and increasingthe capital for SSI’s activities, but excludes other investments and stocktrading.
This is the second time in 2017 that SSI hasissued bonds, increasing the total value of bonds issued after both sessions to600 billion VND.
In January, SSI had issued bonds worth of 300billion VND to individuals and non-financial investors for diversifyingmobilised funds and raising medium-term capital in its capital structure.
At its annual shareholders’ meeting on April 21, SSI reported that thecompany’s business earnings for 2016 reached 2.312 trillion VND,exceeding 60 percent of the target and up 28 percent against 2015. Its pre-taxprofit was 1.056 trillion VND, 11.24 percent higher than the target.
For 2017, SSI plans a consolidated revenuetarget of 2.108 trillion VND and consolidated profit before tax of 1.058trillion VND.-VNA
VNA
