Phat Dat Real Estate
On December 25, 2023, Phat Dat Real Estate Development Joint Stock Company (MCK: PDR) announced the information about the implementation of the buyback of the entire batch of PDRH2123010 bonds (Code PDR12101).
Specifically, on December 25, 2023, the company repurchased 421.2 billion dong of outstanding bonds of the PDR12101 bond batch, bringing the remaining volume after repurchase (at face value) to 0 dong.
It is known that this bond batch was issued on December 23, 2021, with a maturity period of 2 years and maturity date on December 23, 2023. The total face value of the issuance is 500 billion dong.
Also on December 25, 2023, Phat Dat Real Estate spent 37.5 billion dong to buy back all of the PDRH2224001 bonds (code PDR12204) before maturity. This bond batch has an issuance value of 300 billion dong, issued on March 25, 2022, with a maturity period of 2 years and maturity date on March 25, 2024.
With the full settlement of the PDRH2224001 and PDRH2123010 bond batches, Phat Dat Real Estate has officially cleared its bond debt as previously planned.
LC Real Estate
Information on the Hanoi Stock Exchange (HNX) shows that on October 18, 2023, LC Real Estate Trading Company Limited (LC Real Estate) spent 500 billion dong to repurchase the batch of LCLCH2124001 bonds.
By October 26, 2023, the company continued to repurchase the remaining 500 billion dong of the above-mentioned bonds.
Thus, in just over 1 week, LC Real Estate has fully settled the LCLCH2124001 bond batch. It is known that this bond batch has a total value of 1,000 billion dong. The bond was issued on September 21, 2021, with a maturity period of 36 months.
The interest rate for the first interest calculation period is 10% per annum, and for subsequent periods, the interest rate is equal to the reference interest rate plus a spread of 2.3% per annum.
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According to the announcement, the above-mentioned bonds were issued to increase the scale of capital operations for the company; specifically, the amount received is also used by the company to settle the deposit agreement for the purchase and sale contract of condotel signed on August 25, 2021 with NewVision Real Estate Company Limited.
Nice Star Real Estate
Although there were delays in interest payments due to cash flow difficulties, in 2023, Nice Star Investment and Development Limited Liability Company (Nice Star) proactively repurchased the entire 1,500 billion dong batch of 4-year bonds, 2 years earlier than the planned issuance period, with an interest rate of 12.5% per annum.
According to information from HNX, this bond batch was issued on January 13, 2022, and is due on January 13, 2026. The interest rate is announced at 12.5% per annum, with payments made every 3 months.
On October 9 and 10, 2023, Nice Star spent nearly 1,190 billion dong to pre-maturely repurchase a part of this bond batch.
Then, from October 24 to 30, 2023, the company continued to spend 310 billion dong to repurchase the bond with the code NCLCH2226001, thereby settling this bond batch before maturity.
Kinh Bac
Kinh Bac Urban Development Corporation – Joint Stock Company (MCK: KBC, HoSE stock exchange) is also a company actively repurchasing bonds before maturity in 2023.
Prior to that, on March 31 and April 5, 2023, Kinh Bac repurchased the entire 2,000 billion dong of 2 bond batches, KBCH2124002 and KBCH2124003. The bond batches have a maturity period of 3 years and were issued in June and November 2021.
At the end of May 2023, the company of businessman Dang Thanh Tam reported the early repurchase of the KBC121020 bond.
This bond batch has a total value at face value of 1,500 billion dong, issued on June 24, 2021, and is expected to mature on June 24, 2023.
According to Document No. 2505/2023/KBC, KBC invited the early repurchase of 7.5 million KBC121020 bonds, with a value at face value of 750 billion dong and a repurchase interest rate of 10.8% per annum.
The registration period for selling back bonds to the issuing organization is from May 11th to 15th, 2023.
During the above-mentioned period, the company repurchased 342.72 billion dong out of the total registered purchase of 750 billion dong, achieving a rate of 45.7%.
After the transaction, the outstanding bonds of KBC decreased to 1,157 billion dong.
Regarding this bond batch, at the beginning of 2024, KBC announced that it has prepared capital to “clear the debt” of the bond. KBC’s Board of Directors stated that they have implemented a priority strategy to use all financial resources to pay on schedule. In addition, the significant increase in cash flow from the industrial park business activities also contributes to KBC’s ability to repay the debt.
