On November 26, in Ho Chi Minh City, the "IDI announcement ceremony for the successful issuance of the first batch of green seafood bonds in Asia - Pacific" took place.
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| Overview of the Ceremony announcing IDI's successful issuance of seafood green bonds. |
The event was solemnly organized by Multinational Investment & Development Joint Stock Company (IDI - a member of Sao Mai Group) in coordination with GuarantCo Ltd.
The event was attended by Mr. Brent Stewart, Deputy Consul General of Australia in Vietnam; Mr. Ben Gruenberg, First Secretary, Consulate General of the United Kingdom in Vietnam; Mr. Nishant Kumar, CEO of GuarantCo Asia-Pacific region and domestic and international financial institutions.
The IDIH2432001 bond lot was issued in the domestic market with a volume of 1,000 bonds, face value of 1 billion VND/bond, issuance value of 1,000 billion VND, 8-year term, fixed interest rate of 5.58%/year, a record low interest rate, only after the banking sector.
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| Mr. Le Tuan Anh, General Director of Sao Mai Group, said that IDI's successful issuance of the first green seafood bond in Asia paved the way for further progress with a Win-Win perspective not only for GuarantCo, IDI but also for many other secondary investors. |
This is the first batch of green bonds for seafood in Vietnam to date. In the scope of seafood, IDI's green bond is also the first in the Asia-Pacific region.
Guaranteed for payment by GuarantCo Ltd (a limited liability company operating under the laws of Mauritius), IDI was issued and completed on 31/10/2024. Thus, the maturity date is 31/10/2032.
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| Mr. Brent Stewart, Deputy Consul General of Australia in Vietnam, commented: “IDI green bonds pave the way for greening Vietnam's seafood industry.” |
GuarantCo has become a strategic partner of IDI and that has given wings and extended IDI's achievements to domestic and foreign investors.
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| Mr. Le Tuan Anh, General Director of Sao Mai Group (sitting on the right) and GiarantCo leaders signed the Memorandum of Understanding at the Announcement Ceremony. |
The depository organization is Vietnam Securities Depository and Clearing Corporation. The related unit is Vietnam Joint Stock Commercial Bank for Foreign Trade Securities Company Limited (VCBS).
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| Mr. Le Van Canh, General Director of IDI Company said: "The first green bond for seafood in Asia - TBD - this is an important milestone marking 16 years of establishment and development of IDI" |
IDI's successful issuance of the first green seafood bond in Asia-Pacific is a pioneering step, integrating at the right time, in line with the context, with the development trend of "Greening" of the world.
IDI has affirmed the absolute value of the billion-dollar aquatic species of the Mekong Delta region that needs to be preserved and the economic benefits from exporting pangasius fish to Vietnam promoted.
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| IDI enjoys a low anti-dumping tax rate (POR19) whose final results have been announced by the US Department of Commerce (DOC), paving the way for IDI seafood to enter the world's largest economy. |
The company's seafood products have been exported to more than 50 countries and territories around the world. For many consecutive years, IDI has always been present in the TOP 3 of the largest seafood processing and exporting enterprises in Vietnam.
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| Delegates received flowers of thanks from Sao Mai Group and IDI Company. |
The proceeds from the issuance of green bonds will be used by IDI to accelerate the completion of the US seafood factory, with a capacity of 120 tons/day and an expected output of 20,000 tons/year of frozen fish fillets. Once completed, this factory will contribute to increasing IDI's total capacity to nearly 600 tons of raw materials/day.
This is IDI's third seafood processing plant with advanced production technology transferred from Europe. The products meet the strictest technical barriers and food safety criteria of the US and European markets.
In addition, the modern construction will ensure no impact or impact on the environment. IDI will also apply solar power solutions to the production process, ensuring clean and safe criteria from "the farming area - to the factory and on the dining table of all global customers".
In addition, IDI is also simultaneously implementing the construction of a high-quality seed production center with the ambition of revolutionizing pangasius seed. The two projects above have a total investment of nearly 1,000 billion VND.
IDI is a key member company of Sao Mai Group, so the successful issuance of green bonds is an important step for this group and GuarantCo to think further and more practically about green bonds in other fields that Sao Mai owns.
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| Pangasius farming area according to IDI's linkage model. |
After 25 years of establishment, Sao Mai Group has had very profound operational strategies. From the fields of: Real estate, aquaculture and seafood processing for export, seafood food processing, eco-tourism, construction design, labor export to renewable energy.
In each field, the group has taken solid steps to continuously create new values for the community, contributing to protecting the natural landscape environment in localities.
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| LAMORI Resort & Spa - mysterious green valley on the epic land of Lam Kinh. |
In which, eco-tourism and clean energy are the main spearheads of the Group, in line with the development trend of the world, highly appreciated by the Governments of countries, environmental protection organizations, green financial organizations and bringing very convincing results to Sao Mai.
Source: https://baoquocte.vn/le-cong-bo-idi-phat-hanh-thanh-cong-trai-phieu-xanh-thuy-san-dau-tien-o-chau-a-thai-binh-duong-295441.html
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