Kai Hoan Land Extends Bond Maturity of KHGH2123001 to April 2025
Kai Hoan Land Joint Stock Corporation (stock code: KHG) has just announced unscheduled information on bondholders’ resolution.
Accordingly, on April 3, 2024, the bondholders of KHGH2123001 approved the extension of the maturity date to April 5, 2025, and adjusted the interest rate to 12%/year. They also adjusted the interest calculation period and the interest payment period to every two months on day 5 for the term from April 5, 2024, to April 5, 2025.
It is known that the bond KHGH2123001 was issued by Kai Hoan Land on October 5, 2021, with a term of 18 months. The original maturity date of this bond is April 5, 2023.
This is a bond issued in the domestic market, with a volume of 300,000 bonds, face value of 1 million VND/bond, corresponding to an issuance value of 300 billion VND, with a fixed interest rate of 12%/year.
The collateral for the payment of Interest and Principal of Bond KHGH2123001 includes: 42 million KHG shares of Khai Hoan Land Real Estate Joint Stock Company currently listed on the Ho Chi Minh City Stock Exchange (HoSE) of the Third Party, including: 28.8 million KHG shares owned by Mr. Nguyen Khai Hoan, 12.8 million KHG shares owned by Ms. Tran Thi Thu Huong, and 400,000 KHG shares owned by Mr. Phan Tuan Nghia.
The purpose of issuing bond KHGH2123001 is to mobilize capital to expand the scale of real estate brokerage activities; and cooperate in developing and exclusively distributing phase 1.1 of the T&T City Millennia project.
This is the second time this real estate company has postponed the maturity date of the bond KHGH2123001 by 1 year.
Specifically, at the beginning of 2023, Kai Hoan Land postponed the maturity date of bond KHGH2123001 by 1 year to April 5, 2024, and adjusted the interest rate to 13.5%/year for the period from April 5, 2023, to April 5, 2024.
In addition, on June 21, 2023, Kai Hoan Land also postponed the maturity date of bond KHGH2123002 by 1 year, adjusting the bond interest rate to 13.5%/year. The interest calculation period will be adjusted to every two months.
It is known that the bond code KHGH2123002 was issued on December 22, 2021, with a maturity date of June 22, 2023 (original plan), face value of 300 billion VND, interest rate of 12%/year, and interest payment every 3 months.
Currently, Kai Hoan Land is circulating 3 bond lots: bond lot KHGH2123001 (300 billion VND), bond lot KHGH2123002 (300 billion VND), and bond lot KHGH2328001 (240 billion VND), with a total value of 840 billion VND.
