Mr. Duc's business pays part of bond debt to BIDV

(Dan Tri) - Hoang Anh Gia Lai paid 200 billion VND in bonds issued to BIDV since the end of 2016. The company is currently late in paying principal and interest on these bonds.

Hoang Anh Gia Lai Joint Stock Company (stock code: HAG) announced to pay 200 billion VND in the HAGLBOND16.26 bond lot issued at the end of 2016.

This bond lot was issued to BIDV, is a non-convertible bond, without warrants, secured by assets including tens of thousands of hectares of land lease rights in Laos, Cambodia...

Mr. Duc's Hoang Anh Gia Lai has just paid part of its debt to BIDV (Photo: HAG).

Previously, in October, Mr. Duc's company announced that it was late in paying more than VND4,501 billion in principal and interest on bonds. Specifically, the company was late in paying more than VND3,486 billion in interest and VND1,015 billion in principal. The expected payment date is in the fourth quarter.

The reason for the delay in payment was that it had not yet collected enough money from the debt of Hoang Anh Gia Lai International Agriculture Joint Stock Company (currently a 3-party debt repayment schedule has been agreed upon) and that it had not yet been able to liquidate some unprofitable assets.

According to the financial statement, as of September 30, Hoang Anh Gia Lai International Agriculture Joint Stock Company (HNG) and its subsidiaries still owed VND1,015 billion to Hoang Anh Gia Lai.

In the first 9 months, Hoang Anh Gia Lai achieved net revenue of VND4,194 billion and after-tax profit of VND851 billion. While revenue decreased by 17%, profit increased by 20% compared to the same period last year.

The company is still under pressure from debt. As of September 30, the company had VND4,126 billion in short-term financial debt and VND3,097 billion in long-term financial debt. Total debt has decreased by VND645 billion compared to the beginning of the year, but the pressure to repay short-term debt is still very large.

Source: https://dantri.com.vn/kinh-doanh/doanh-nghiep-bau-duc-tra-mot-phan-no-trai-phieu-cho-bidv-20241227115632397.htm