The bonds were issued on November 8, with a term of 2,517 days, maturing on September 30, 2031. The fixed interest rate is 8.2% per annum.
The collateral for the bonds is common shares of JSC Vicostone (stock code VCS, currently listed on the HNX) owned by Phenikaa Group and all rights and interests arising from or related to or attached to all VCS shares (including, but not limited to, all stock dividends, bonus shares, except for cash dividends).
Phenikaa Group is a diversified conglomerate with over 30 member units operating in Vietnam, chaired by Ho Xuan Nang (Mr. Nang is also the Chairman of VCS). Its core business is industrial manufacturing of surface materials, with quartz-based artificial stone as its flagship product, sold in the Vietnamese and international markets since 2004, managed and operated by key subsidiaries including Vicostone, Style Stone, and Vietnam Stone Fabrication.
Mr. Ho Xuan Nang
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In the first half of 2024, Phenikaa Group reported after-tax profits of 514 billion VND, a 31% increase compared to the same period last year. As of the end of June 2024, its equity stood at over 9 trillion VND, with liabilities of over 6.3 trillion VND, including 900 billion VND in bond debt.
Prior to this 200 billion VND bond issue, Phenikaa Group successfully raised 320 billion VND through the PKACH2431001 bond series on September 30, 2024. This series also carries a fixed interest rate of 8.2% per annum and has a 7-year term maturing on September 30, 2031. The bonds are non-convertible, do not have warrants attached, and are secured by 7.5 million VCS shares.
In late 2023, Phenikaa Group raised 900 billion VND from two bond series issued on December 14, 2023, with a 7-year term. The fixed interest rate for the 600 billion VND series was 6.2% per annum, while the 300 billion VND series had a floating rate of 5.87% per annum. The company paid a total of over 27 billion VND in interest for the first payment due on June 14, 2024.
Phenikaa Group, chaired by Ho Xuan Nang, issues 320 billion VND bonds
Phenikaa Group Issues Corporate Bonds Worth 320 Billion VND
Phenikaa Group has successfully raised 320 billion VND from bondholders as of September 30, marking the third bond issuance by the company in less than a year.
The Sky’s the Limit: Mr. Ho Xuan Nang’s Phenikaa-X Aims to Bring Drones to Flood-Hit Areas
The Phenikaa-X drone offers unparalleled long-range reconnaissance capabilities, providing eyes on the ground during flood situations. With its advanced technology, it captures critical and timely information, aiding rescue operations with precise data.
“Phenikaa Group Announces Profits of Over 500 Billion VND in the First Half of 2024”
With a 31.5% year-over-year increase in net profit for the first half of 2024, Phenikaa Group’s return on equity (ROE) also improved to 5.78%, up from 4.54% in the same period last year.
Entrepreneur Hồ Xuân Năng: A breakthrough with a “reverse” M&A that built up a nearly 9,000 billion dong asset
Mr. Ho Xuan Nang, back when he was the leader of the company, experienced a reverse takeover, where his own company was taken over instead.
