According to VNDirect Securities Company, as of May 23, more than 30 issuers have reached agreements to extend the term of corporate bonds with bondholders and have officially reported to the Hanoi Stock Exchange (HNX). For example, Hung Thinh Land Joint Stock Company has successfully negotiated with bondholders on a number of issues of the bond lot coded HTLAND.2020.TV01 and coded H79CH2123002. Accordingly, the company is allowed to adjust the time to buy back bonds before maturity later than April 20, 2023 as agreed on March 19.
Many businesses successfully negotiated with bondholders to extend bond payment deadlines.
Similarly, Sovico Joint Stock Company announced a change in the maturity date of 6 privately issued bonds from 36 months to 60 months. Accordingly, the maturity date of these bonds, instead of being implemented in June and July 2023, will be extended to June and July 2025. Or An Khai Hung Investment Joint Stock Company was also agreed by bondholders to extend the time for paying principal and interest on bonds in installments and extended to August 2023.
Meanwhile, Gia Dinh Star Investment Joint Stock Company also reached an agreement with bondholders to extend the maturity date for the bond lot coded GDSCH2123001 from 24 months to 36 months, corresponding to the new maturity date of May 10, 2024 (the old maturity date was May 10, 2023). At the same time, the content of the plan required to pay 50% of the principal (equivalent to VND 200 billion) no later than November 10, 2023; pay the next 25% of the principal (equivalent to VND 100 billion) no later than February 26, 2024 and the last 25% of the principal (equivalent to VND 100 billion) no later than May 10, 2024...
Recently, the Ministry of Finance has issued an official dispatch requesting that enterprises with privately issued bonds maturing in 2023 must prioritize the use of all resources of the enterprise to pay the principal and interest of the bonds due to investors as committed. In case of difficulties in balancing the payment sources, the issuing enterprise shall proactively negotiate with investors to consider harmonious, reasonable and effective measures to restructure the bond debts, payment methods suitable to the actual situation and in accordance with the provisions of law, including payment with other assets and extending the maturity.
At the same time, enterprises must comply with the information disclosure regime on the issuance of private corporate bonds as prescribed; continue to proactively disclose information, financial situation and operations of the enterprise so that investors have full and official information on the financial situation of the enterprise...
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