ANTD.VN - As of October 15, 2024, there are more than 80 enterprises on the list of late payment obligations for interest or principal of corporate bonds, mainly real estate enterprises.
According to the corporate bond market report just released by VNDirect, corporate bond issuance in the third quarter of 2024 increased by nearly 30% compared to the second quarter of 2024.
Of which, the banking group accounts for 81% of the total value of individual corporate bonds, while the real estate group accounts for only 14.2%.
Excluding the banking group, the value of individual corporate bonds issued in the third quarter decreased by 14% compared to the second quarter and decreased by 44.4% compared to the same period.
Private corporate bond issuances in Q3/2024 had an average issuance yield of 6.94%, down from the average issuance yield of 7.36% in Q2/2024, mainly due to banks being the main issuers.
 |
Corporate bond issuance activities are picking up again, but the rate of late payment remains high |
Pre-maturity corporate bond purchases continued to increase, reaching VND69,878 billion in the third quarter, up 31.5% compared to the second quarter of 2024, and up 18.7% over the same period.
In the first 9 months of the year, the total value of corporate bonds bought back before maturity reached more than 146,525 billion VND, down 18.5% over the same period. Banks are still the group that buys back the most corporate bonds before maturity, followed by real estate.
Notably, the negotiation activities to extend the bond term between issuers and bondholders are still active in the third quarter of 2024. As of October 15, more than 100 issuers have reached agreements to extend the bond term with bondholders and have officially reported to HNX.
The total value of bonds with extended maturity is over VND 156,000 billion. Of which, the total value of bonds with maturity in 2024 that have been extended is over VND 58,700 billion, accounting for 37.6% of the total value of corporate bonds with extended maturity.
Most of the bonds with maturing dates in 2024 that have been extended are from real estate companies. Issuers that have reached agreements to extend the maturity of large bonds in the third quarter include: Hoa Dong 2 Wind Power Company Limited, TPI Investment Company Limited, Dai Thinh Phat Investment and Construction Joint Stock Company, etc.
Along with that, the list of companies that are late in paying corporate bond debt is still increasing. As of October 15, 2024, there are more than 80 enterprises on the list of late payment obligations for interest or principal of corporate bonds according to the announcement of HNX. The principal amount due in the third quarter of 2024 of late-paying issuers is about more than VND 8,600 billion, accounting for 22.5% of the total maturity value in the third quarter of 2024, and accounting for 30.6% of the total maturity value in the third quarter (excluding the banking group).
The total principal amount due in the third quarter of 2024 of late-paying issuers and the value of bonds with maturity dates in the third quarter that have been extended is approximately more than VND 21,700 billion, accounting for 42.1% of the total maturity value in the third quarter and 52.5% of the total maturity value in the third quarter when excluding the Banking group.
According to VNDirect's estimate, the total outstanding individual corporate bonds of these more than 80 enterprises is VND190,000 billion, accounting for about 18.6% of the outstanding individual corporate bonds of the whole market, most of which are enterprises in the real estate group.
Source: https://www.anninhthudo.vn/hon-80-doanh-nghiep-cham-thanh-toan-trai-phieu-chu-yeu-la-bat-dong-san-post593521.antd
Comment (0)