Vinhomes to issue $208M bonds

By Minh Son   October 17, 2023 | 06:45 pm PT
Vinhomes to issue $208M bonds
A VinBus shuttle bus in Vinhomes Ocean Park urban area. Photo courtesy of Vinhomes
Housing developer Vinhomes plans to make a private placement of bonds worth VND5 trillion (US$208.3 million) in three tranches to restructure its debts.

Vinhomes, a subsidiary of conglomerate Vingroup, said the bonds would be non-convertible and secured by assets and have a term of 24 months.

Vinhomes currently has only one batch of outstanding bonds worth VND2.16 trillion, which it issued in September 2021 with a three-year maturity, according to the Hanoi Stock Exchange.

The bonds, with a coupon rate of 8.8%, were sold to an institutional investor.

Vinhomes reported after-tax profits of VND21.6 trillion on revenues of VND75.578 billion for the first half of this year, both four times the figures from a year earlier.

At the end of the second quarter the company had assets of VND391 trillion and liabilities of VND220 trillion, including loans of VND43 trillion.

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