In the second half of this year, TNG plans to offer 400 billion VND in bonds secured by shares held by the Chairman of the Board of Directors to cover raw material costs and employee salaries.
According to a document submitted to the State Securities Commission, TNG Investment and Trading Joint Stock Company (stock code: TNG) plans to offer 4 million bonds with a face value of 100,000 VND each. The total value of the bonds offered is 400 billion VND, 1.3 times the company's outstanding bond debt.
The company plans to offer this bond issue from Q2 to Q4 2024 after approval from the State Securities Commission. The bonds have a term of 48 months from the date of issuance and are expected to mature in 2028.
This bond issue has a fixed interest rate of 9.5% per annum for the first four interest payment periods (i.e., the first year). From the following periods onwards, the interest rate will be calculated as the average interest rate on 12-month term deposits of four state-owned banks plus 3.5%. The collateral for the bonds consists of 10 million TNG shares owned by Mr. Nguyen Van Thoi, Chairman of the Board of Directors of the company, with a value determined to be VND 220.6 billion.
The proceeds from this issuance will be used to pay salaries for employees, with 224 billion VND allocated to paying for raw materials and services to 28 suppliers. This plan is an adjustment compared to the initial information announced by TNG's leadership in a Board of Directors resolution in April 2024. At that time, the leadership planned to use 200 billion VND raised from the bond issuance to pay employee salaries, 24 billion VND to pay social insurance and unemployment insurance, and the remaining amount to pay for raw materials to 33 partners.
Besides issuing bonds, TNG also plans to issue a total of over 21.2 million shares this year to pay dividends and for existing shareholders. According to the company's management, this issuance aims to raise capital for production, acquire more machinery and equipment, expand production scale, and seek investment opportunities. Furthermore, the new capital will help the company increase its operational scale and become more proactive in production and business, leveraging the advantages of strategic partners to enhance competitiveness and market position.
Anticipating continued volatility in the global economy , TNG's management has set a business plan with estimated revenue of VND 7,900 billion (an 11% increase compared to the previous year). Expected after-tax profit is VND 310 billion (approximately a 42% increase compared to the previous year). The company plans to distribute a minimum dividend of 16% (8% in shares and 8% in cash).
According to the first quarter financial report, TNG's net revenue from sales and services reached VND 1,354 billion, an increase of 1.4% (equivalent to VND 19 billion) compared to the same period last year. Gross profit was recorded at VND 203 billion, an increase of VND 11 billion (equivalent to 5.8%) compared to the same period. Net profit after tax reached nearly VND 42 billion, a decrease of nearly VND 2 billion (equivalent to 4.1%) compared to the same period last year.
Source: https://baodautu.vn/tng-phat-hanh-trai-phieu-de-tra-tien-hang-luong-nhan-vien-d217670.html
Comment (0)