FLC redeems $40.9M bonds before maturity

By Anh Tu   October 17, 2023 | 09:09 pm PT
FLC redeems $40.9M bonds before maturity
Conglomerate FLC has decided to retire three lots of bonds worth VND982.9 billion (US$40.9 million).

It has fully redeemed two lots worth VND400 billion and VND430 billion that mature in October next year, and VND152.9 billion worth of a VND1- trillion issuance due on Dec. 28, 2023, according to the Hanoi Stock Exchange.

Since several of its senior executives got into legal trouble last year, FLC has been prematurely redeeming bonds.

At an extraordinary meeting of shareholders held at the beginning of this year, the management said three-quarters of all bonds issued since 2020 had been bought back.

Since the third quarter of last year, FLC has not released its results.

In September, it had claimed it was yet to reach a consensus with auditors on the standalone and consolidated reports for 2021.

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