The collateral for the bonds is secured by shares owned by FECON, Chairman of the Board of Directors, Pham Viet Khoa, and FECON Investment Joint Stock Company (a subsidiary of FCN). The initial announced guarantee ratio is 210%.
The company also plans to repurchase this bond lot in 4 tranches, with the first tranche repurchasing a minimum of 30% on December 10, 2025, and the remaining 3 tranches at 17.5% each.
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Repurchase schedule of FCN bonds
Source: FCN
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According to HNX, FECON currently has a bond lot FCNH2426001 worth VND 120 billion, issued on October 21, 2024, with a term of 18 months and an issuance interest rate of 11% per annum. The collateral includes 500,000 FCN shares, nearly 15 million shares of FECON Energy Joint Stock Company (FCP), and over 15.6 million shares of FECON Underground Works Joint Stock Company (FRU), all of which are subsidiaries of FCN.
On April 21, 2025, the Company spent VND 17 billion to repurchase the above bond lot, leaving a remaining value of VND 103 billion.
As of the end of the first quarter of 2025, FCN’s total assets were nearly VND 9,905 billion, up 2% from the beginning of the year. Of this, payables were nearly VND 6,547 billion, up 3%, with financial debt of over VND 4,020 billion, up 3% from the beginning of the year and accounting for 61% of total debt.
In another development, the FCN Board of Directors has just approved the appointment of Mr. Nguyen Thanh Tung (born in 1981) – Executive General Director to the position of FECON General Director, effective from the beginning of July 2025 until the end of the 2024-2029 term.
Chairman Pham Viet Khoa: FCN is discussing the TOD segment with Chinese and Japanese partners
– 11:43 24/06/2025
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