Many real estate businesses 'attract' capital through bond channels

At the end of May 2025, capital mobilization activities through the bond channel were bustling with the active participation of many real estate businesses.

Information from the Hanoi Stock Exchange (HNX) shows that in the last days of May 2025, many real estate businesses completed the issuance of a series of large-value bonds, contributing to significantly increasing capital flow to the market.

Notably, Viet Hoang Minh Real Estate Investment Construction Joint Stock Company (VMH) issued a bond lot with the code VMH12501 with a total value of up to VND 3,466 billion, with a term of 5 years. The bond lot includes 34,660 bonds, with a face value of VND 100 million/bond, issued and completed on May 22, 2025, maturing on May 22, 2030.

Many real estate businesses have successfully raised capital through the bond channel. Illustrative photo

This is a non-convertible bond, without warrants and secured by assets. Regarding interest rates, the bond applies a combination of fixed and floating interest rates. The first period has a fixed interest rate of 8.3%/year; the following periods are calculated using the reference interest rate plus a margin of 3.5%/year. The issuing organization commits to buy back the bonds before maturity once a year. BIDV is the depository organization, while BIDV Securities Joint Stock Company (BSC) is the related unit.

On May 26, 2025, ACC Vietnam Joint Stock Company also successfully issued AVN32501 bonds with a scale of VND 500 billion, 6-year term, fixed interest rate of 8.5%/year. The bond lot consists of 5,000 bonds, with a face value of VND 100 million/bond, issued and completed on May 26, 2025. These are "3 no" bonds, meaning they are non-convertible, non-warranted and non-secured. Vietnam Securities Depository and Clearing Corporation is the depository, and EuroCapital Securities Joint Stock Company (ECC) is the related organization.

Previously, on December 30, 2024, ACC Vietnam also issued AVNCH2429001 bonds worth VND490 billion, with a term of 5 years, with a fixed interest rate of 10%/year. This bond is also of the "3 no" type, deposited at the Vietnam Securities Depository and Clearing Corporation, with the related unit being Everest Securities JSC (HNX: EVS).

Another notable bond deal was from Song Phuong Industry - Real Estate and Construction Company Limited (Song Phuong Company), when this enterprise successfully mobilized VND 388.5 billion through the CSP12501 bond lot, issued on May 20, 2025. The bond lot includes 3,885 bonds, with a face value of VND 100 million/bond, a term of 60 months and a combined interest rate of 12%/year.

CSP12501 bonds are non-convertible, without warrants but are secured by assets in the form of payment guarantees. The depository is HD Securities Joint Stock Company, and the offering subjects are professional organizations and individuals.

Previously, on December 31, 2024, Song Phuong also successfully issued bond lot CSPCH2429001, mobilizing 360 billion VND, with a term of 60 months and a combined interest rate of 12%/year.

It is known that Song Phuong Company is the investor of Phuoc Thang Residential Area project (commercial name is Amira Chon Thanh) in Binh Phuoc province, with a scale of 55.4 hectares, starting construction in October 2022. The company was established in September 2008, operating mainly in the real estate sector. Currently, the charter capital is 700 billion VND, the legal representative is Ms. Nguyen Thi Phuoc.

The fact that many real estate businesses have successfully raised capital through the bond channel at the present time shows signs of a recovery in investor confidence, and at the same time shows that the bond channel is still an important financial source to help businesses implement projects.

Ngan Nga

Source: https://congthuong.vn/nhieu-doanh-nghiep-bat-dong-san-hut-von-qua-kenh-trai-phieu-389979.html