OCB spends 3,000 billion VND to buy back bonds before maturity

Hanoi Stock Exchange (HNX) has just announced that Orient Commercial Joint Stock Bank (HoSE:OCB ) has repurchased all outstanding bonds of three codes OCBL2124005, OCBL2124006 and OCBL2225010 before maturity on August 29.

Accordingly, the bank has repurchased all 1,000 bonds per lot. With a face value of 1 billion VND/bond, OCB has spent 3,000 billion VND on this deal.

Bond lots OCBL2124005 and OCBL2124006 have a term of 3 years, both issued on August 24, 2021 with a fixed interest rate of 3.5%/year. Bond lot OCBL2225010 has a term of 3 years, issued on August 24, 2022 with a fixed interest rate of 5.2%/year.

The purpose of issuing these bonds is to increase the scale of working capital to serve the lending needs in OCB's business operations.

OCB has just successfully issued 2,000 billion VND in bonds.

On the other hand, on August 28, HNX announced that OCB had successfully issued the OCBL2326006 bond lot with a face value of 1 billion VND/bond, the total issuance value was 2,000 billion VND.

The bond has a term of 3 years, from August 18, 2023 to August 18, 2026 with an issuance interest rate of 6.6%/year.

This is the sixth bond batch issued by this bank this year. Previously, on June 22, OCB announced a resolution on the offering and issuance of individual bonds, non-convertible, without warrants or without payment guarantee/guarantee in 2023.

Accordingly, OCB plans to issue a maximum of 26,000 bonds with a face value of VND1 billion each. According to the plan, these bonds will be issued in 15 tranches, each worth VND1,000 - 2,000 billion from the second to fourth quarters of 2023.

The time for each tranche of bonds offered for sale shall not exceed 90 days from the date of announcement of information before the offering. The total time for the multiple tranches of bonds shall not exceed 12 months from the date of the first issue. The proceeds from the bond issuance shall be used for lending, investment or other purposes in accordance with current regulations .

Source: https://www.nguoiduatin.vn/ocb-chi-3-000-ty-dong-mua-lai-trai-phieu-truoc-han-a624511.html