In particular, the Company conducted two early redemptions during this period for three bond lots: SGL-2020.01, SGL-2020.07, and SGL-2020.08; and one early redemption for four lots: SGL-2020.02, SGL-2020.03, SGL-2020.04, and SGL-2020.06.
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Summary of Saigon Glory’s Early Bond Redemptions from August 30 to September 23, 2024
Source: HNX. Compiled by the author
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Saigon Glory’s move to redeem multiple bond lots comes as the Company’s parent company, Bitexco Group, transfers its entire 100% stake to a new owner.
On September 20, the representative of Saigon Glory bondholders issued a document regarding the approval of Bitexco Group’s asset transfer to the new owner, a Hanoi-based enterprise.
Specifically, the representative of Saigon Glory bondholders agreed to allow Bitexco Group to transfer its capital contribution as secured assets to the new owner, Hanoi-based real estate company, Công ty TNHH Bất động sản Phương Đông Hà Nội.
It is understood that this transfer does not alter the obligations of Saigon Glory to its bondholders, as per previously approved resolutions. Following the completion of the transfer, the new owner, Công ty Phương Đông Hà Nội, is required to re-mortgage the capital contribution as secured assets at a bank to guarantee the obligations for ten bond lots of Saigon Glory, from SGL-2020.01 to SGL-2020.10.
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