Hoa Sen to issue VND500 billion worth of bonds
In 2019, Hoa Sen Group plans net revenue and net profit of VNĐ31.5 trillion and VNĐ500 billion, respectively. Photo ndh.vn
Giant steel maker Hoa Sen Group is set to issue non-convertible corporate bonds worth a maximum of VND500 billion (US$21.46 million).
The expected issue price is VND100,000, the bond term will be two years and the coupon rate will be negotiated with investors.
The issuance is expected to take place this year.
Hoa Sen has informed shareholders it plans to issue shares and bonds or convertible bonds to existing shareholders, strategic partners and other investors.
It plans to issue shares to raise VND 500-1,000 billion and convertible bonds to raise VND500-1,000 billion.
In 2017-18 the company reported profits of VND410 billion, down 69 per cent from the previous year and its lowest in the last four years.
This year the company targets net profits of VND500 billion on revenues of VND31.5 trillion. — VNS
