(Dan Tri) - Hoang Anh Gia Lai has paid 1,030 billion VND in bond debt to BIDV . The company still owes 766 billion VND in principal and more than 3,621 billion VND in interest.
2 days to pay 1,030 billion VND in bond debt
Hoang Anh Gia Lai Joint Stock Company (stock code: HAG) has just reported on the payment of principal and interest on bonds with BIDV as the bondholder. The report dated December 29 stated that the company paid VND206 billion and on December 30 paid an additional VND824 billion, both of which were principal debts. The total debt paid is VND1,030 billion.
After 2 payments, Hoang Anh Gia Lai still has 766 billion VND in principal debt. The accumulated unpaid interest as of December 29 is more than 3,621 billion VND.
Notably, on December 29, Mr. Duc's company stated that the reason for not paying was that it had not collected enough money from the debt of Hoang Anh Gia Lai International Agriculture Joint Stock Company (HAGL Agrico - stock code: HNG) and had not been able to liquidate some of the company's unprofitable assets.
By December 30, when it had an additional VND824 billion to pay off its debt, Hoang Anh Gia Lai no longer mentioned HAGL Agrico's debt but only said that it had not yet liquidated some of the company's unprofitable assets.
The source of funds for Hoang Anh Gia Lai to pay the above bond debt is likely to have been arranged by HAGL Agrico. Mr. Duc's enterprise said it will pay the remaining bond debt (VND 766 billion) in the second quarter of 2025.
Mr. Duc's business has paid more debt to BIDV (Photo: HAG).
How much does Mr. Duc's company still owe?
The bond lot that Mr. Duc’s company is diligently paying off was issued at the end of 2016, with BIDV as the bondholder. The issuance value at par is 6,596 billion VND, this bond is non-convertible, without warrants, secured by assets including tens of thousands of hectares of land lease rights in Laos, Cambodia, etc.
This year, Hoang Anh Gia Lai has paid off this bond many times. Before paying on the last two days of the year as mentioned above, on January 15, the company paid more than VND84.5 billion. On February 2, the company paid another VND357.5 billion. On August 29, the company paid an additional VND100 billion.
In addition, in April, Hoang Anh Gia Lai also bought back all 300 billion VND from the HAG2012.300 bond lot issued on June 18, 2012 before maturity. The source of money to pay for this bond lot comes from the 1,300 billion VND that Hoang Anh Gia Lai successfully mobilized from a private share offering.
According to the consolidated financial report for the third quarter, as of September 30, the company had VND4,126 billion in short-term financial debt and VND3,097 billion in long-term financial debt. Total debt has decreased by VND645 billion compared to the beginning of the year, but the pressure to repay short-term debt is still very large.
The company has more than 4,130 billion VND in bond debt (long-term) with BIDV as the bondholder, accounting for the majority of the debt. There are many other bank creditors who mostly lend short-term loans.
The largest creditor is Loc Phat Vietnam Joint Stock Commercial Bank (LPBank) with VND1,626 billion, double that of the beginning of the year. Tien Phong Joint Stock Commercial Bank (TPBank) and Saigon Thuong Tin Joint Stock Commercial Bank (Sacombank) lent VND459 billion and VND556 billion, respectively.
Source: https://dantri.com.vn/kinh-doanh/cong-ty-bau-duc-con-no-bao-nhieu-sau-khi-tra-hon-1000-ty-dong-cho-bidv-20241231062733673.htm
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