Hai An Transport and Stevedoring Joint Stock Company (HAH) has just sent a letter to the Hanoi Stock Exchange (HNX) to announce the information on the result of issuing HAHH2328001 bonds.
Accordingly, the HAHH2328001 bonds were issued by HAH in the domestic market, with a volume of 500 bonds, a face value of 1 billion VND per bond, a corresponding issuance value of 500 billion VND, and a term of 5 years.
The HAHH2328001 bonds were issued and completed on February 2, 2024. Therefore, the maturity date of these bonds is February 2, 2029.
These bonds are non-convertible, unaccompanied by warrants, and secured with an asset, which is a ship owned by Hai An Container Transport Limited Liability Company, a subsidiary of the Issuing Organization, according to the Certificate of Registration of the ship number HP-CON-0023142 issues on July 4, 2017, by the Vietnam Maritime Administration.
The bond registration and depositary organization for the above-mentioned bonds is the Vietnam Securities Depository and Settlement Corporation. The related organization is Saigon Securities Incorporated (SSI).
Notably, the HAHH2328001 bonds have a fixed interest rate of only 6% per year. This is a record low-interest rate for corporate bonds in the current capital mobilization market.
According to data compiled by the Vietnamese Bond Market Association (VBMA) from HNX and SSC, as of February 2, 2024, there were 2 private corporate bond issuances worth 1,650 billion VND and 1 public bond issuance worth 2,000 billion VND in January 2024.
Source: VBMA
Specifically, VinGroup Corporation successfully issued VICH2326002 bonds with a value of 2,000 billion VND, with a front-end interest rate of 15% per year and for the remaining terms, the interest rate is calculated based on the reference rate plus a spread of 4.5% per year.
Investment and Transport Development Corporation successfully issued TRACH2427001 bonds with a value of 450 billion VND and a fixed interest rate of 6.5% per year.
Ninh Thuan BOT Co., Ltd. successfully issued BNTCH2433001 bonds worth 1,200 billion VND, with a front-end interest rate of 10.5% per year and for the remaining terms, the interest rate is calculated based on the reference rate plus a spread of 3% per year.
In addition, Ho Chi Minh City Infrastructure Investment and Development Corporation (CII) issued CII42301 bonds in December 2023 (completed in January 2024), which are convertible bonds, with a total of over 28.4 million bonds offered for sale, a term of 10 years, and a face value of 100,000 VND. The applicable interest rate is 10.5% per year for the first 4 terms and floating for the remaining terms.
Viet A Commercial Joint Stock Bank (VAB) issued VABCLH2330001 bonds in December 2023 (completed in January 2024), with a term of 7 years and a value of 500 billion VND. The fixed interest rate is 8.5% per year.
In the future, there will be 2 notable bond issuances. The first one is by Thanh Thanh Cong – Bien Hoa Joint Stock Company (SBT), when the Board of Directors has approved the plan to issue bonds in the first quarter of 2024 with a maximum total issuance value of 500 billion VND. These are non-convertible, unaccompanied by warrants, secured with assets, with a face value of 100 million VND/bond (equivalent to a total issuance of 5,000 bonds). The maximum term of these bonds is 3 years, with a fixed interest rate of 11% per year for the first 2 terms; for the remaining terms, the interest rate is calculated based on the reference rate plus a spread of 3.85% per year.
The second one is by Vietnam – Ban Viet Joint Stock Commercial Bank (BVB). Recently, the Board of Directors of Ban Viet Bank has approved the plan to issue private bonds in 2024 with a maximum total issuance value of 5,600 billion VND, expected to be divided into 6 issuances. These are non-convertible bonds, unaccompanied by warrants, secured with assets, with a face value of 100,000 VND/bond, a maximum term of 8 years, and a fixed interest rate of 8% per year.
Therefore, with the successful mobilization of 500 billion VND of capital from bonds at a fixed interest rate of 6% per year, HAH has achieved a record low-interest rate in the current bond market. This is even lower than the banking group, which is the group of businesses that have successfully mobilized the lowest capital and lowest interest rate from bonds during the past time.
In terms of business results, as of the end of 2023, HAH recorded a decrease of 18.5% in net revenue to 2,612 billion VND, resulting in a gross profit of 611 billion VND, which is a 2.3 times decrease compared to the previous year. The post-tax profit of the company is 371 billion VND, which is a 2.8 times decrease compared to the previous year.
As of December 31, 2023, HAH’s total assets are 5,369 billion VND, a 6.33% increase compared to the beginning of the year. In which, current assets are 1,596 billion VND, an 8.46% decrease.
In the accounting balance sheet, as of the end of 2023, HAH’s total payable debt is 2,182 billion VND, a slight increase compared to the beginning of the year (2,162 billion VND). In which, short-term debt is 889 billion VND, a 2.31% decrease.
On the stock market, at the end of the first trading session of the Year of the Snake 2024 (February 15), HAH stock price was 40,200 VND per share, a 1.35% decrease compared to the previous trading session, with a trading volume of over 3 million shares.
