Saigon Glory 79 early bond buyback
From the beginning of 2024 to present, Saigon Glory Company Limited has announced 79 early bond buybacks. The bought back bond codes include: SGL-2020.01, SGL-2020.02, SGL-2020.03, SGL-2020.04, SGL-2020.05, SGL-2020.06, SGL-2020.07, SGL-2020.08, SGL-2020.09, SGL-2020.10.
The above bonds were all issued in 2020, most of them have a term of 5-6 years, maturing in 2025 and 2026. The issuance value of each bond code is 1,000 billion VND.
After the buybacks, the remaining value of the bond lots as of July 1, 2024 is: Bond code SGL-2020.01 is VND 851.8 billion; SGL-2020.02 is VND 851.5 billion; SGL-2020.03 is VND 850.5 billion; SGL-2020.04 is VND 950.3 billion; SGL-2020.05 is VND 950.1 billion; SGL-2020.06 is VND 950.5 billion; SGL-2020.07 is VND 954.5 billion; SGL-2020.08 is VND 951.8 billion; SGL-2020.09 is VND 950.7 billion; SGL-2020.10 is VND 950.6 billion.
In total, the total value of the bonds Saigon Glory bought back before maturity of the 10 above-mentioned bonds reached about 500 billion VND.
Saigon Glory is a company operating in the field of real estate investment and trading. Saigon Glory's continuous move to buy back bonds before maturity since the beginning of the year shows that the company has actively restructured its debt to reduce its financial burden. However, Saigon Glory's financial picture in 2023 recorded many negative factors.
At the end of 2023, the company reported a loss after tax of VND 152 billion, while in the same period last year it made a profit of VND 290 billion. Saigon Glory's equity as of the end of 2023 was VND 6,847.5 billion, down 2.1% compared to 2022.
As of December 31, 2023, Saigon Glory's debt/equity ratio was 3.99 times, equivalent to the company's debt of VND 27,321 billion, an increase of 4.6% compared to 2022. This debt is also 4 times higher than the company's equity.
Bond debt/equity ratio is 1.46 times. Thus, Saigon Glory's bond debt balance by the end of 2023 is VND 9,997 billion, an increase of 2.1% compared to 2022.
Many businesses continue to buy back bonds before maturity
According to records in the corporate bond market, recently, businesses have continuously promoted the purchase of bonds before maturity to restructure debt and reduce financial burden.
Typically, Toan Hai Van Joint Stock Company has bought back 5 bonds before maturity with a total buyback value of 80 billion VND. The buyback date is June 30, 2024. All 5 bonds were issued in 2021 and 2022, and are expected to mature on June 30, 2029. The total value of the 5 bond lots mentioned above reached 800 billion VND. After the early buyback, the total remaining value of the 5 bond lots is 720 billion VND.
Toan Hai Van is an enterprise investing in and trading in real estate, providing seaport services, general warehouses and logistics. In 2023, the company reported a profit of 22.6 billion VND, a sharp increase of 90% compared to the previous year.
Liabilities as of December 31, 2023 were VND 7,852 billion, an increase of 11% over the same period last year. Outstanding bonds were VND 803 billion, an insignificant change compared to 2022. Equity as of the end of 2023 was VND 2,296 billion. Thus, the amount of liabilities of VND 7,852 billion is 3.4 times higher than the company's equity.
Similarly, from the beginning of 2024 to now, North Star Holdings Joint Stock Company has had 17 early repurchases of the NSTCH2324001 bond lot. The bond was issued by North Star Holdings on April 14, 2023, maturing on August 14, 2024. Thus, there is about 1 month left until the maturity date of this bond lot.
Notably, the bonds have an interest rate of up to 14%/year, with a total issuance value of VND671 billion. After 17 rounds, the company has bought back a total of VND425.3 billion worth of bonds before maturity. Previously, in 2023, North Star Holdings also bought back VND5.7 billion worth of this bond code. The remaining bond value after 19 early buybacks is VND239.9 billion.
Source: https://laodong.vn/kinh-doanh/nhieu-doanh-nghiep-rao-riet-mua-lai-trai-phieu-truoc-han-1364512.ldo
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