Vietjet plans to issue 2,000 billion VND in bonds to pay for salaries and fuel

In a document sent to the State Securities Commission and the Ho Chi Minh City Stock Exchange, Vietjet Air announced that on July 24, 2023, the Board of Directors of Vietjet Aviation Joint Stock Company (stock code: VJC) issued a resolution approving the plan to issue VND 2,000 billion in corporate bonds.

Vietjet plans to issue VND2,000 billion in bonds. (Illustration photo)

This resolution stated that the purpose of Vietjet's bond issuance is to implement the program to pay operating costs for fuel, port costs, flight operations, engineering, salaries, insurance, aircraft deposit payments (PDP) and other costs.

The number of bonds issued is 20,000 bonds with a face value of VND 100 million/bond. These are regular bonds, non-convertible, without warrants and without collateral, with a term of 60 months. The maximum fixed interest rate is 12%/year for the first 2 interest calculation periods.

Previously, in May 2023, Vietjet also approved a plan to issue VND2,000 billion in private corporate bonds to supplement the company's capital for production and business activities, pay operating costs for fuel, port costs, flight operations, engineering, salaries, insurance, aircraft deposit payments (PDP) and other costs.

In 2023, Vietjet sets a target of net revenue of VND 50,178 billion and after-tax profit of VND 1,000 billion.

At the end of the first quarter, the company's total assets reached VND69,277 billion, a slight increase compared to the beginning of the year. Cash, cash equivalents, and term deposits were about VND1,992 billion.

Thanh Lam

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Source: https://vtc.vn/vietjet-du-kien-phat-hanh-2-000-ty-dong-trai-phieu-de-chi-tra-tien-luong-xang-dau-ar808346.html