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Vinhomes raises $313M through bonds

By Anh Tu   May 12, 2024 | 06:34 pm PT Google Get VnExpress first in Google Search info See more of the news you trust. Make VnExpress a preferred source to prioritise our updates in your Google search results
Vinhomes raises $313M through bonds
Vinhomes Golden River apartment complex in District 1, Ho Chi Minh City. Photo by Shutterstock/Evan_Unit01
Property developer Vinhomes has made four bond issuances worth VND8 trillion ($314 million) with a coupon rate of 12% in a little over a month.

Two each have 24-month and 36-month maturities.

The biggest property developer in Vietnam wants to issue VND10 trillion worth of bonds this year.

It had bonds outstanding of VNND15.3 trillion as of last year, 70% of them guaranteed by its properties.

Vinhomes targets revenue growth of 15% to a record VND120 trillion this year.

It eyes an increase in profits of 4.3% to VND35 trillion, the highest since 2022.

In the first four months over VND29 trillion worth of bonds were issued in Vietnam, half of them by property developers, according to the Vietnam Bond Market Association.

Around VND183 trillion are set to mature from now until the end of the year, it added.

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