3 lots of bonds related to BB Group Corporation are required to be bought back

Tan Viet Securities Joint Stock Company has just sent a report to the Hanoi Stock Exchange (HNX) regarding BB Power Holdings Joint Stock Company's violation of payment obligations for the bond lot coded BBP.H.20.23.001. The bond lot has a total value of VND 400 billion, currently outstanding VND 260 billion, issued on December 25, 2020. The original maturity date was December 25, 2023, but was extended to March 25, 2025 according to the Resolution of the bondholders. However, by March 25, the issuer only transferred to Tan Viet the payment amount equivalent to 10% of the principal and interest value, after which the securities company paid this amount to the bondholders.

Three batches of bonds related to BB Group required to be bought back due to late payment

PHOTO: NGOC THANG

Tan Viet Securities Company said that the payment amount on March 25 was insufficient, so the company sent a document to the issuer, requesting to fulfill the obligation to buy back all bonds within 10 working days from the date of receipt of the document.

Not only the bond lot of BB Power Holdings, Tan Viet Securities Company also issued a similar notice with two other bond lots. That is the bond lot HSC.H.20.23.001 issued by Hoang Son Energy Investment Joint Stock Company, with a total value of 500 billion VND and currently circulating nearly 330 billion VND, maturing on March 25, 2025. The other bond lot with code HS2.H.20.23.001 issued by Hoang Son 2 Energy Investment Joint Stock Company, with a total value of 500 billion VND, currently circulating nearly 339 billion VND, also maturing on March 25, 2025. Both companies have only paid 10% of the principal and interest for these two bond lots when due. Therefore, Tan Viet also requires that within 10 days the issuing company must have the obligation to compulsorily buy back all outstanding bonds.

It is noteworthy that all three bond issuers mentioned above are related to BB Group, chaired by Mr. Vu Quang Bao. BB Power Holdings is the unit in charge of the group's energy sector, owning many member companies such as Hoang Son Energy, Hoang Son 2 Energy...

Source: https://thanhnien.vn/3-lo-trai-phieu-lien-quan-tap-doan-bb-group-bi-yeu-cau-mua-lai-185250328102528293.htm