Real estate company issued bonds worth nearly VND2,900 billion in 2 years.

Hung Thinh Phat Development Joint Stock Company (Hung Thinh Phat) has recently sent a letter to the Hanoi Stock Exchange (HNX) reporting that the company has completed the issuance of HTPCH2327001 bond with a value of 2,888 billion VND and a term of 4 years.

The HTPCH2327001 bond has a volume of 28,880 bonds with a face value of 100 million VND; issued on December 31, 2023 and completed on March 6, 2024. The maturity date of this bond is December 31, 2027.

The bond registrar is HD Securities Corporation. This bond has a combined interest rate. The interest payment method consists of 2 periods (every 6 months) with an issuance interest rate of 12% per year.

Estimated at an annual interest rate of 12%, the company will have to pay up to 346.5 billion VND in interest each year, which is equivalent to 28.8 billion VND per month.

It is worth noting that Hung Thinh Phat Company was established in October 2021, headquartered at 119 Truong Van Bang, Thanh My Loi Ward, Thu Duc City, Ho Chi Minh City (HCMC). The main business area is real estate.

This company has a charter capital of 940 billion VND, but the amount of bond mobilization is up to 2,880 billion VND, which is 3 times higher than the charter capital.

This enterprise is relatively unknown in the market, with no information or announcement of any real estate investment projects.