Specifically, Hung Thinh Quy Nhon Entertainment Services Joint Stock Company has just announced unusual information about the late payment of interest on individual corporate bonds, non-convertible, without warrants, secured by assets, in Vietnamese Dong, bond code HTQNB2124001 issued by this enterprise, with a total volume of successfully issued bonds of 500 billion VND, term of 3 years.
Accordingly, with this bond code, the planned payment date is October 25, 2023.
With the recent unusual disclosure document, the expected payment plan is stated as "Payment of all interest payable by November 30, 2023 at the latest".
The reason for the delay in paying principal and interest was given by Hung Thinh Quy Nhon Entertainment Services Joint Stock Company as: "Due to unfavorable developments in the financial market and real estate trading market, the Issuer has not been able to arrange funds in time to pay bond interest on time compared to the plan".
Hung Thinh Quy Nhon Entertainment Services Joint Stock Company is headquartered in Quy Nhon City, Binh Dinh Province. The main business of this enterprise is trading and developing real estate, land use rights owned, used or leased.
Previously, on October 23, No Va Real Estate Investment Group Joint Stock Company also sent a document to the Hanoi Stock Exchange regarding the announcement of unusual information regarding the delay in payment of principal and interest on bonds NVLH2123007.
Regarding this issue, the authorities have issued a notice emphasizing that enterprises with outstanding bond debt are ultimately responsible for their bond debt obligations, proactively making information about the financial situation and debt repayment ability of the enterprise transparent through credit rating results, auditing financial statements, fully disclosing information on the payment status of bond principal and interest, the use of capital from bond issuance, and being responsible for fully paying bond debt obligations according to the bond issuance plan that has been disclosed to investors to ensure reputation in the market.
Investors need to have full understanding of legal regulations, access full information about the issuing enterprise and the bond, carefully evaluate the financial situation of the issuing enterprise, clearly distinguish that corporate bond products are not bank deposits, assess the level of risk commensurate with the profit when investing in bonds, make their own decisions and take responsibility for their investment decisions.
Private corporate bonds are only issued and traded to professional securities investors.
Service providers are responsible for improving service quality, fully complying with legal regulations and fulfilling reporting obligations, consulting and providing full information to bond investors. They are not allowed to give ambiguous advice between corporate bonds and bank savings deposits, and are absolutely not allowed to invite investors who do not meet the conditions to become professional securities investors to buy bonds.
State management agencies will continue to promote propaganda, dissemination of laws and inspection, examination and supervision of activities related to the corporate bond market.
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