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Vingroup to issue VND10 trillion worth of bonds

The Saigon Times

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HCMC – Vingroup JSC (VIC) has unveiled plans to publicly issue five bond lots worth a total of VND10 trillion to fund VinFast’s automotive production project in Dinh Vu-Cat Hai Economic Zone in Haiphong City.

The bond sales, managed by SSI Securities Corporation, consist of two tranches: VND6 trillion with a 36-month term and VND4 trillion with a 24-month term.

The non-convertible bonds have a par value of VND100,000 each, and do not include warrants, mortgages, or direct debt obligations with the issuing company.

The first bond tranche of VND6 trillion will be divided into three phases. The VICH2326001, VICH2326002, and VICH2326003 bond lots will have a fixed coupon of 15% per year for the first two coupon payment periods. From the third period onwards, the rate will be 4.5% plus the reference rate being the average lending rate of major banks.

The other tranche, which includes VICH2326004 and VICH2326005 bond lots, will have a fixed coupon of 14.5% per annum for the first two interest payment periods. From the third period onwards, the rate will be 4% plus the reference rate.

To acquire those bonds, individual investors must buy a minimum of 500 units, while institutional investors are required to purchase a minimum of 5,000 units.

The issuance date for the three 36-month bond lots is September 14, and that for the two 24-month bond lots is August 31.

According to Vingroup’s second-quarter earning reports, its total assets reached nearly VND608 trillion, slightly higher than the figures recorded in late March.

Its consolidated revenue in the first half of 2023 totaled VND102.53 trillion, more than double that of the same period last year, attributed mainly to real estate transfers as financial income.

Vingroup’s other sectors, including real estate investment, hotel services, tourism, entertainment, and manufacturing, have seen positive growth. The manufacturing segment’s revenue in January-June soared by 55%, mainly driven by a significant surge in electric vehicle sales, which is five times higher than those in the same period last year.

As a result, Vingroup recorded consolidated pre-tax profit of VND7.9 trillion in this period, more than twice that of the same period in 2022 and the highest profit level since its listing on the stock exchange.

On the stock market, VIC shares lost 1.02% to VND58,300 with over 12.3 million shares matched today, August 2, after two consecutive sessions shooting up to their upper limits.

The Hochininh Stock Exchange saw 237 gainers and 226 losers. The VN-Index added 2.87 points at 1,220.43 points, up 0.24% against the previous session.

Trading volume plunged by 26.5% day-on-day to 940.8 million shares and value slid by 27.3% to around VND19.2 trillion. There were 91.4 million shares transacted in block deals, contributing nearly VND2.1 trillion to the overall value.

Housing developer NVL continued taking the lead by liquidity on the southern market today, with a gain of 3.1% to VND18,350 per share and a matching volume of around 43.3 million shares.

On the Hanoi Stock exchange, the HNX-Index closed with 101 gainers and 74 losers, increasing by 1.96 points, or 0.82%, to reach 241.31 points.

There were more than 94.4 million shares worth VND1.5 trillion changing hands on the northern market.

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