Dong Nai Traffic Construction Company is continuously late in paying interest on 4 bond periods.

Dong Nai Traffic Construction Joint Stock Company is late in paying interest on bond lot DGTH2224001. Illustration photo: Duc Manh

Dong Nai Traffic Construction Joint Stock Company (headquartered at 200 Nguyen Ai Quoc, Trang Dai Ward, Bien Hoa City, Dong Nai Province) has just announced unusual information about the late payment of interest for the individual corporate bond lot DGTH2224001, terms 4, 5, 6, 7. Accordingly, the bond lot DGTH2224001 has a term of 2 years, maturing on February 22, 2024 with a total value of 350 billion VND. This bond lot was arranged by Capital Securities Joint Stock Company (CASC), with the announced interest rate of 11%/year. The purpose is to increase the scale of working capital. This enterprise has consecutively delayed interest payments for 4 periods as follows: Period 4 is late payment of more than 9.3 billion VND on October 2, 2023; Period 5 is late payment of more than 9.4 billion VND on October 2, 2023; Period 6 is late in payment of more than 7.1 billion VND on November 22, 2023; Period 7 is late in payment of more than 6.6 billion VND on November 22, 2023 (only nearly 38 million VND of this has been paid). The total amount of late interest to date is 32 billion VND. The enterprise plans to pay on February 22, 2024. The reason given by Dong Nai Traffic Construction Joint Stock Company is the general difficulty of the real estate market and the construction sector, so it has not been able to arrange enough money to pay bondholders on time and in full as planned. Established in 1977, formerly known as the Bridge and Road Construction Company, Dong Nai Traffic Construction Joint Stock Company was previously a small enterprise with a charter capital of less than 25 billion VND, operating mainly in the fields of construction and stone exploitation. During the period 2019 - 2020, this enterprise changed owners and continuously increased capital through private issuance.

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