On September 16, many information channels spread information that Phat Dat Real Estate Development Joint Stock Company (stock code: PDR) mobilized 3,490 billion VND through the bond channel.
Speaking with Tuoi Tre Online on the evening of September 16, a representative of Phat Dat Real Estate Development Joint Stock Company said that this enterprise is completely unrelated to the information about issuing 34,900 bonds with code PDACB2425001 on September 12, 2024.
According to this person, the fact that some information channels posted content claiming that PDR successfully mobilized nearly 3,500 billion VND in bonds is incorrect.
According to the investigation, the bond lot coded PDACB2425001 was issued by Phat Dat Real Estate Investment and Development Company Limited. According to information from the Hanoi Stock Exchange (HNX), Phat Dat Real Estate Investment and Development Company Limited has completed the issuance of 34,900 bonds, equivalent to a total value of VND3,490 billion.
This bond has a term of one year, maturing on September 12, 2025 with a fixed interest rate of 12%/year. This enterprise is headquartered in Dai An urban area (Nghia Tru commune, Van Giang district, Hung Yen province), with Ms. Bui Thi Mai as the legal representative.
Previously, Mr. Bui Quang Anh Vu, General Director of Phat Dat Real Estate Development Joint Stock Company, said that by the end of 2023, Phat Dat had reduced the company's bond balance to 0 before the end of the year.
Bond maturity pressure remains high
A report by the Vietnam Bond Market Association (VBMA) shows that the corporate bond market is vibrant again with the total value of new issuance reaching an impressive number in August.
According to data from VBMA, as of August 30, there were 43 private corporate bond issuances worth VND37,995 billion and 2 public issuances worth VND11,000 billion in August 2024.
Thus, in August, a total of nearly 49,000 billion VND was successfully mobilized through corporate bonds.
Cumulatively, from the beginning of the year until now, there have been 227 private issuances worth VND215,583 billion and 13 public issuances worth VND22,773 billion. Banks are leading the race to raise capital with up to VND42,000 billion in bonds issued.
The real estate group ranked second in capital mobilization when it raised nearly VND5,000 billion through 7 issuances. In the report updating the Vietnamese economic situation recently published by the World Bank (WB), the WB stated that the corporate bond market is showing signs of recovery.
Corporate bond issuance increased 2.5 times in the first half of 2024 compared to the same period in 2023 as banks took advantage of the low interest rate environment to roll over bond debt.
However, the World Bank said that the amount of bonds maturing in the second half of 2024 is estimated at VND 139.8 trillion (USD 5.6 billion), of which real estate bonds account for 42%, creating pressure on the real estate sector in difficult cash flow conditions.
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