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Saturday, June 3, 2023

Novaland extends maturity of VND1.75 trillion bonds

The Saigon Times

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HCMC – No Va Land Investment Group Corporation (NVL) has cut a deal with securities firms BSC and PSI, which are holding a combined VND1.75 trillion worth of corporate bonds issued by NVL, extend the maturity of the bond to a later date.

The due date of the NVLH2124002 bond lot will be extended by one year to April 26, 2025. It is worth VND250 billion and is held by BIDV Securities JSC (BSC).

Meanwhile, the maturity date of the NVLH2224006 bond lot, a total value of VND1.5 trillion, is lengthened by two years to March 15, 2026. The bond is held by Petrovietnam Securities Incorporated (PSI).

The deal raised the annual coupon of the bond lots by one percentage point to 11.5%.

NVL also announced it would issue over 975 million shares to strategic and professional investors and sell another 1.95 billion shares to existing shareholders.

The forthcoming debt issues are part of the property company’s plan to restructure and repay debt. The company may fetch VND19.5 trillion from the bond sales.

NVL closed the trading session today, March 24, at the upper limit, VND11,900, and took the lead by liquidity with more than 30.5 million shares changing hands.

With 265 winners and 122 losers, the VN-Index of the HCMC exchange extended its winning run to the fourth straight session with a gain of 1.69 points, or 0.16%, from the session earlier, at 1,046.79.

There were more than 579.7 million shares worth over VND8.2 trillion changing hands on the southern stock market, increasing nearly 34.4% in volume and 21.2% in value against yesterday’s session. Around 72.8 million shares traded in block deals contributed nearly VND1.3 trillion to the overall value.

With 106 advancers and 61 decliners, the HNX-Index of the Hanoi Stock Exchange rose 2.41 points to 205.72, up 2.41% over the previous session.

Trade on the Hanoi exchange amounted to nearly 66.2 million shares worth VND956.6 billion, surging 37% in volume and 60% in value, with over one million shares worth VND14.4 billion traded in put-through deals.

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