In 2023, Duc Mai has made two interest payments totaling over 160 billion VND for the bond DUCMAI2020.
It is known that this bond was issued on December 22, 2020 with a value of 1,351.8 billion VND, a term of 60 months, an interest rate of 9.5% for the first term, and a total of 1.6% for the following terms and reference interest rate of the adjusted term.
The purpose of the issuance is to purchase a stake in Nova Nippon Co., Ltd.
The collateral includes: the entire stake in Nova Nippon formed in the future owned by the two issuing organizations, Phu Thinh Phat and Duc Mai Investment Import Export Company; the entire stake in Sun City of Nippon; the agricultural land use rights for the 9.1 ha land on Mai Chi Tho Street (Thu Duc District, Ho Chi Minh City); the land area of 10.1 ha on Mai Chi Tho Street of Sun City Real Estate Company; the stake in Sun City estimated (as of February 2020) owned by Investment Consulting Management Company Limited, and a stake in Sun City Vietnam Investment and Management Consulting Limited.
In addition, the aforementioned collateral will also be used to guarantee the bond of 1,400 billion dong that Hoang Truong Real Estate Investment Company Limited (Hoang Truong) privately issued in 2020 to purchase a stake in Nova Nippon Co., Ltd. (Nippon).
In addition to the 1,358.8 billion dong bond issued in 2020, in January 2022, Duc Mai also successfully raised over 286 billion dong for the bond DMICH2227001, with a term of 60 months. However, as of August 31, 2022, the company has prematurely redeemed this bond.
