Ben Thanh Quadrangle project owner buys back bonds ahead of schedule

According to information from the Hanoi Stock Exchange (HNX), Saigon Glory Company Limited has just spent money to buy back part of the three bond lots on September 18. This is the company that is the investor of The Spirit of Saigon project - also known as Ben Thanh quadrangle (HCMC).

Specifically, Saigon Glory bought back 600 million VND of SGL-2020.01 bonds, thereby the remaining circulating value is 702.9 billion VND. This bond lot was issued in June 2020 with a term of 5 years and a value of 1,000 billion VND. In addition, Saigon Glory bought back 149.2 billion VND of SGL-2020.02 bonds, thereby the remaining circulating value is more than 702 billion VND. This bond lot was also issued in June 2020, with a term of 5 years and a total value of 1,000 billion VND. Finally, the owner of The Spirit of Saigon project bought back 150 million VND of SGL-2020.04 bonds, the remaining circulating value is 850.8 billion VND. This bond lot was also issued in June 2020 with a term of 5 years, total issuance value of 1,000 billion VND.

Saigon Glory - the investor of Ben Thanh quadrangle project continuously buys back bonds before maturity date before changing ownership

Previously, on September 12, Saigon Glory also bought back 148.2 billion VND of bond code SGL-2020.01... Saigon Glory's consecutive early bond buybacks took place a few days before the company officially "fell into the hands" of its new owner. Recently, Saigon Glory announced information that the bondholder representative had a written consent for Bitexco Group LLC (Saigon Glory's parent company) to transfer the bond collateral, which is the capital contribution at Saigon Glory, to Phuong Dong Hanoi Real Estate LLC (Phuong Dong Hanoi Real Estate).

This transfer does not change the obligations of Saigon Glory Company Limited to bondholders and the resolutions previously approved by bondholders. Saigon Glory issued 10 bond packages with a total issuance value of VND 10,000 billion in 2020, of which 5 bond packages have a term of 5 years (until June - July 2025) and 5 bond packages have a term of 6 years (until November 2026). According to the report by the end of September 25, the company has repurchased more than VND 149.96 billion before maturity and the value of outstanding bonds is more than VND 8,710 billion.

Source: https://thanhnien.vn/chu-du-an-khu-tu-giac-ben-thanh-mua-lai-trai-phieu-truoc-han-185240926151224112.htm