Thanh Thanh Cong - Bien Hoa Joint Stock Company (stock code SBT) has just announced a Board of Directors resolution approving the plan to repurchase a portion of SBTB2124001 bonds. These bonds were issued on January 26, 2021, with a 3-year maturity. Accordingly, the total number of bonds to be repurchased is 4.5 million, with an exercise ratio of 4.5/7 (holders of 7 bonds will have the right to resell 4.5 bonds).
The bonds have a face value of VND 100,000 and will be repurchased at approximately VND 102,011, equivalent to a total repurchase value of over VND 459 billion. The record date for bondholders entitled to resell is May 22nd. Currently, the bond issue has a total outstanding quantity of 7 million bonds, equivalent to a total value of VND 700 billion.
Many companies continue to repurchase bonds before maturity.
Similarly, Son Ha International Joint Stock Company (stock code SHI) has just announced information about the continued early repurchase of bonds with code SHIH2124001. Specifically, SHI repurchased VND 28 billion at face value out of the VND 238 billion outstanding of this bond issue. The remaining amount after repurchase is VND 210 billion. This is a 3-year bond issue, issued in July 2021. The bond interest rate is fixed at 11% per annum for the first two interest periods; the interest rate for subsequent periods is equal to the total reference interest rate plus 4.5% per annum, or equal to 11% if the reference interest rate is less than 6.5% per annum.
Previously, in mid-January 2023, SHI also repurchased VND 42 billion out of the VND 280 billion outstanding of the aforementioned bond issue, thereby reducing the remaining amount after repurchase to VND 238 billion. Thus, from the beginning of the year until now, SHI has repurchased VND 70 billion of the SHIH2124001 bond issue ahead of schedule.
Hoa Binh Construction Group Joint Stock Company (stock code HBC) also repurchased VND 10 billion out of VND 94.6 billion of the HBCH2225002 bond issue ahead of schedule. The bonds were issued on October 31, 2022, have a 3-year term, and will mature on October 31, 2025. The face value of each bond is VND 100 million. The remaining amount after the repurchase is VND 84.6 billion. This is also the second time in 2023 that HBC has repurchased bonds ahead of schedule. Previously, on January 17, the company repurchased VND 250 billion out of VND 500 billion of the HBCH2225001 bond issue, issued on January 27, 2022, with a 3-year term.
Kinh Bac Urban Development Corporation (stock code KBC) has just announced a Board of Directors resolution approving the closing of the list and the plan for early repurchase of the publicly issued bond lot KBC121020. The KBC121020 bond lot was issued on June 24, 2021, with a 2-year term, maturing on June 24, 2023. Accordingly, the expected volume of bonds to be repurchased at par value is 7.5 million bonds, equivalent to a par value of VND 750 billion (representing 50% of the total value of outstanding bonds). The repurchase ratio is 2:1 (holding 2 bonds entitles holders to resell 1 bond). The payment date is May 24. The repurchase interest rate is 10.8% per annum. Bondholders can register to resell to KBC from May 11-15.
Previously, KBC had repurchased all KBCH2123002 bonds maturing on June 3, 2023, totaling VND 1,000 billion; and repurchased all KBCH2123004 bonds maturing on November 11, 2024, totaling VND 1,000 billion...
According to a report by VNDirect Securities Company, early bond repurchase activity slowed down somewhat in April, with over 4,833 billion VND worth of bonds repurchased. The total value of early repurchases in the first four months of 2023 reached over 39,388 billion VND.
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