Hanoi Stock Exchange (HNX) recently announced the bond issuance results of Dragon Viet Securities Corporation (VDSC, HoSE: VDS).
Specifically, Rong Viet Securities announced that it had successfully issued 6,986 bonds with code VDSH2324002 with a term of 1 year. Thereby, it raised 698.6 billion VND at a par value of 100 million VND/bond, reaching 99.8% of the expected bond issuance volume.
The issuance period starts from June 20 to September 5, 2023. The issuance interest rate according to the resolution approving the second bond issuance plan of VDSC is a fixed interest rate of 10%/year.
This is a non-convertible bond, without warrants and is not secured by the assets of the issuing organization. The bond will be paid principal in one lump sum on the maturity date and interest will be paid periodically once a month.
The proceeds from this issuance will be used by VDSC to restructure debt, including paying the principal of maturing bonds, buying back early, and/or paying off bank loans. The capital raised from the issuance of temporarily idle bonds will be used by the company for savings.
VDSC added that depending on the business performance and capital capacity, the company can buy back a portion of the issued bonds before maturity at the request of bondholders. The maximum number of bonds bought back before maturity is 50% of the number of bonds issued, which can be bought back after 6 months from the date of issuance and the maximum buyback interest rate is 8.5%/year.
Rong Viet Securities successfully mobilized nearly 700 billion through the corporate bond channel.
This is the second bond issuance of VDSC since the beginning of 2023. The first bond lot, code VDSH2324001, was issued on March 3, with a term of 1 year, with a total par value of VND311.1 billion.
Previously, in mid-August 2023, VDSC also issued a resolution stating that the company would issue a third batch of bonds in 2023. The bond batch has the code VDSH2324003, the expected offering volume is 9,000 bonds, the expected issuance value is 900 billion VND, with a fixed interest rate of 9.5%/year.
Regarding the financial picture, the accumulated profit after tax in the first 6 months of the year reached 161 billion VND, while the same period last year lost 129 billion VND. This is the best achievement of Rong Viet Securities since the second quarter of 2022 .
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