BIDV Securities to offer 800 billion VND in bonds in the third and fourth quarters of 2023

Recently, the Board of Directors of BIDV Securities Joint Stock Company (HoSE: BSI) approved a plan to issue private bonds in 2023 with a total expected value of up to VND 800 billion.

Accordingly, the total number of bonds expected to be issued is a maximum of 8,000 bonds with a face value of VND 100,000/bond. The above bonds will be divided into 2 issuances.

Specifically, the first phase is expected to be issued in the third and fourth quarters of 2023, issuing bonds with code BSIH2324001, worth up to VND500 billion. The second phase is expected to be issued in the fourth quarter of 2023, issuing bonds with code BSIH2324002, worth up to VND800 billion minus the total face value of the first phase bonds that were successfully offered.

All are 3-no bonds: non-convertible, non-warrant and unsecured. The bonds have a term of 1 year from the date of issue of each batch. The bonds will be issued in the form of book entries.

The bond interest rate is fixed throughout the bond term, except in the case of early redemption as stipulated in this issuance plan and the bond conditions. The issuing organization shall decide the specific interest rate for each offering, based on the market situation, the capital needs of the issuing organization at each specific issuance time and shall be fully disclosed to investors through the offering documents.

Each bondholder has the right to resell part or all of the bonds held to the issuer on the 6th anniversary of the issuance date of each tranche. The resale price is determined according to the specific resale terms and conditions stipulated in the bond issuance plan.

BIDV Securities offers VND800 billion in bonds in the third and fourth quarters of 2023.

Regarding the purpose of bond issuance, all proceeds from the offerings will be used to restructure the debt of BIDV Securities. The restructured loans are expected to be bank loans with a maximum term of 12 months, with a capital use plan for each expected offering.

Regarding the cash flow for paying principal and interest on bonds, the company will use cash flow from operating profits, capital mobilized from other legal sources to pay principal, interest and other payments (if any) of bonds, the issuer's equity, and other legal sources of revenue of the issuer.

Bonds can be repurchased before maturity by agreement or by force if the company violates the law on offering and trading corporate bonds .

Source: https://www.nguoiduatin.vn/chung-khoan-bidv-chao-ban-800-ty-dong-trai-phieu-vao-quy-iii-iv-2023-a626096.html