In the second quarter of 2023, OCB executed several bond buybacks ahead of schedule, amounting to a total value of VNĐ5.5 trillion. — Photo OCB

Orient Commercial Joint Stock Bank (OCB) has announced its plan of repurchasing its outstanding bonds valued at VNĐ1 trillion (US$42.2 million) before their maturity.

On July 21, all circulating bonds carrying the code OCBL2225009 will be repurchased, two years ahead of their original issuance.

In the second quarter of 2023, OCB executed several bond buybacks ahead of schedule, amounting to a total value of VNĐ5.5 trillion, as per data monitored by VNDirect Securities JSC. The bank states that it has diligently met its debt payment obligations during 2020-22.

Aside from advancing bond redemption, OCB has actively pursued new bond offerings. Recently, the bank authorised its largest-ever bond issuance valued at up to VNĐ26 trillion for this year.

These newly issued bonds are non-warranty, non-convertible instruments with or without payment guarantees. The bonds will be issued in 13 tranches. Each tranche of bonds will be valued between VNĐ1 trillion and VNĐ2 trillion and carry a minimum maturity of one year from the date of issuance. — VNS