HDBank is about to raise 1,000 billion VND through a second bond issuance.

Ho Chi Minh City Development Commercial Bank ( HDBank ) has just announced the second public offering of bonds . Accordingly, HDBank plans to issue bonds with the code HDBC7Y202302 to the public, with a face value of VND 100,000 per bond , for a total issuance value of VND 1,000 billion.

The bond issue has a 7-year maturity period, and the subscription period is from July 17, 2024 to August 7, 2024.

The bond has a floating interest rate, applicable for the entire term of the bond . The interest rate is calculated by adding the benchmark interest rate to a margin of 2.8% per annum.

The minimum order quantity for individual investors is 500 bonds , equivalent to 50 million VND at face value.

For institutional investors , the minimum purchase amount is 1,000 bonds , equivalent to 100 million VND at face value. To avoid confusion, investors are only allowed to subscribe for an even number of bonds , up to the nearest whole number.

HDBank's bond issues will be launched in 2024.

In 2023, HDBank planned to offer three tranches of bonds to the public, totaling 50 million bonds . In the first tranche, the bank offered 30 million bonds , while the second and third tranches each offered 10 million bonds .

HDBank's third bond offering is expected to take place in the second to fourth quarters of 2024. The purpose of raising funds through bonds is to supplement Tier 2 capital, improve the capital adequacy ratio, and meet HDBank's customer lending needs.

Since the beginning of the year, HDBank has raised a total of 5 bond tranches with a total face value of VND 4,500 billion. Of these, the largest bond tranche, VND 2,000 billion (code HDBL2431001), was issued on May 9, 2024, with a 3-year term, expected to mature on May 9, 2027. The issuance interest rate is 4.8% per annum.

Source: https://www.nguoiduatin.vn/hdbank-sap-huy-dong-1000-ty-dong-trai-phieu-dot-2-204240711092037447.htm