Vinhomes has just successfully issued 3,000 billion VND worth of bonds, 36-month term, 12% annual interest rate.
This information has just been reported by Vinhomes Joint Stock Company on the Hanoi Stock Exchange. This bond lot of Vinhomes was issued on March 25 and will mature after 3 years. The company will pay a fixed interest rate of 12% per year - the same level as the 4 lots Vinhomes offered for sale at the end of last year.
A few days ago, this real estate giant announced its plan to issue bonds in multiple tranches with a total value of VND10,000 billion. According to the plan, the issuance time is no later than the third quarter of 2024. The terms of these bonds range from 24 to 36 months.
By the end of last year, Vinhomes' outstanding bonds were about VND15,300 billion, of which more than VND4,400 billion were due for payment this year. More than 70% of the company's bonds are secured by land use rights and assets attached to land at Vinhomes projects.
Vinhomes is one of the few real estate companies to issue bonds since the beginning of the year. According to data from the Vietnam Bond Market Association (VBMA), in the first two months of the year, the issuance value remained very low compared to the same period in 2023. Accumulated to the end of February, new businesses issued about VND5,465 billion in bonds, of which the real estate group accounted for 48.5%.
In a recent report, KB Securities Vietnam (KBSV) assessed that Vinhomes still maintains its leading position thanks to its large land fund and strong project implementation capabilities. KBSV estimates that Vinhomes' total sales contract value this year could reach VND89,000 billion, largely thanks to projects such as Ocean Park 2,3 and Vu Yen and Wonder Park. Sales in 2025 could reach VND95,000 billion.
Anh Tu
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