According to HDS, the purpose of the loan is to finance/offset the investment in government bonds. The offset period for the bond investment (if any) shall not exceed 3 months from the disbursement date.
Interest rates and fees will be applied as per SeABank’s regulations at the time of disbursement, with interest paid monthly and principal repaid in installments or in full at maturity, as per each loan agreement.
The loan will be secured by a 50% guarantee in the form of HDS‘s deposit contract with SeABank and/or another credit institution approved by SeABank, or bonds issued by credit institutions in accordance with SeABank’s regulations, or corporate bonds guaranteed and issued by HDBank with the code AVTCH2429002.
Information about HDS’s loan limit – Source: HDS
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According to HNX, AVTCH2429002 is a bond with a scale of VND 535 billion, issued by Allgreen – Vuong Thanh – Trung Duong JSC on 25/12/2024. The bond has a 5-year term, maturing on 25/12/2029, and is underwritten by HDS. It offers an interest rate of 12% per annum, paid semi-annually, and is non-convertible, without warrants, and asset-backed.
Additionally, Allgreen – Vuong Thanh – Trung Duong JSC has another bond issue with the code AVTCH2429001, amounting to VND 1,735 billion. This bond was issued earlier, on 02/12/2024, with a 5-year term maturing on 02/12/2029. The remaining information regarding the interest rate, payment periods, and underwriter is similar to that of AVTCH2429002.
Allgreen – Vuong Thanh – Trung Duong JSC was established on 03/07/2008 and primarily operates in the short-stay accommodation services industry. With a charter capital of VND 860 billion, the company is owned by Truong Phu Trading Construction Production Co., Ltd. Its current Director and Legal Representative is Mr. Bui Ngoc Tuan.
Turning back to HDS, as of 31/03/2025, the company’s total assets exceeded VND 6,214 billion, a decrease of 19% compared to the beginning of the year. HDS reduced its short-term borrowings by 47%, to VND 1,680 billion, indicating the settlement of significant loan amounts. Previously, in late 2024, HDS had short-term borrowings of VND 3,190 billion, including a VND 3,000 billion loan from HDBank with an interest rate of 6-7.5% per annum, secured by the ownership rights of bonds from multiple enterprises.
Regarding bond activities, on May 20, the company announced that it had received decisions from the Vietnam Securities Depository and Clearing Corporation (VSDC) and the Vietnam Stock Exchange (VNX) to suspend trading and settlement activities in the private corporate bond market from May 20 to 26.
Specifically, on May 19, VSDC decided to suspend settlement activities for private corporate bonds of HDS from May 20 to 26, as the company had been reprimanded by VSDC for two consecutive months (April and May 2025) for removing settlement of private corporate bond transactions.
Based on this decision, on the same day, HDS was also suspended by VNX from all trading activities in the private corporate bond market at the Hanoi Stock Exchange (HNX) for the period from May 20 to 26.
– 19:02 30/05/2025
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