A graphic image of Landmark 81 of Vingroup in HCM City (Photo: cafef.vn)Hanoi (VNA) - Property developerVingroup has gained the State Securities Commission (SSC)’s approval to sell 20million non-convertible bonds.
Vingroup bonds will be sold at 100,000 VND (4.39USD) each in two phases without any covered warrants or guaranteed assets.
Vingroup will sell the first 10 million bonds,coded VIC112020, from the beginning of December to the end of February.
The sale of the second bond issuance, codedVIC122020, will take place within 90 days from the day the SSC receivesVingroup’s announcement.
The total value of the bond deal is 2 trillionVND (85.7 million USD). Techcombank Securities (TCBS) is Vingroup’s advisor forthe deal.
According to Vingroup, the bond issuance willhelp it shake up its loans and clear its financial targets.
Vingroup will spend 1 trillion VND raised fromthe bond issuance to pay the original face value of VIC11504 on December 27,2018.
The remaining 1 trillion VND will be spentpaying the original face value of VIC11707 on February 28, 2019.
In the first nine months, Vingroup earned morethan 84.14 trillion VND (3.6 billion USD) in combined net revenue, up 47.2 percentyear on year.
The group’s pre-tax and post-tax profits in thefirst three quarters rose 72.1 percent and 11.2 percent year-o-year to 8.82trillion VND and 3.29 trillion VND, respectively.
Vingroup’s charter capital is now 32.75 trillionVND (1.4 billion USD). The company has more than 3.19 billion shares on the HoChi Minh Stock Exchange.
Vingroup shares inched up 0.1 per cent toVNĐ102,200 per share on December 6, making the firm the largest listed companyby market capitalisation, which is more than 325.86 trillion VND (14 billionUSD).-VNA
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