According to the resolution, ACB will buy back the bonds before maturity. Specifically, the 4 bonds to be bought back include ACBH2124005, ACBH2124006, ACBH2124011 and ACBH2124012 with a maximum total face value of VND10,000 billion. All 4 bonds were issued separately in 2021 with a term of 3 years (maturity date in June 2024). These are non-convertible bonds, without warrants, without assets and are not ACB's secondary debt.
ACB Bank spends 10,000 billion VND to buy back bonds before maturity
The repurchase dates for these 4 bonds are June 22, June 23, July 8 and July 15, respectively. The purchase price is equal to the issuance par value. The capital source for the repurchase comes from revenues from medium and long-term VND loans or other maturing loans, investments or other legal capital sources maturing at the time of bond repurchase.
At the end of the first quarter of 2023, ACB's consolidated pre-tax profit reached nearly VND 5,157 billion, an increase of more than 25% compared to the first quarter of 2022 and completed 26% of the 2023 business plan. ACB's total assets by the end of the first quarter of 2023 reached VND 611,224 billion, an increase of 0.6% compared to the beginning of the year. This bank has an outstanding debt of more than VND 36,055 billion in outstanding bonds. Of which, the amount of 1-2 year bonds is VND 11,450 billion, 3-year bonds is VND 20,700 billion, 5-year bonds is VND 1,495 billion and 10-year bonds is more than VND 2,411 billion.
Before ACB, many banks spent thousands of billions to buy back bonds before maturity such as Techcombank, Quan Doi, VPB, BIDV, Phuong Dong... According to the April 2023 Corporate Bond Market Report just released by Fiin Group, the banking group accounted for 61% of the value of bonds bought back in April. The value of bank bonds bought back by these organizations increased 5.64 times compared to March and increased 2.42 times compared to the same period in 2022. Most of the bond lots bought back by banks have a term of 3 years and a remaining maturity of exactly 1 or 2 years (2024 or 2025)...
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