Vietjet Aviation Joint Stock Company has submitted a document to the Hanoi Stock Exchange (HNX) and bondholders of VJCH2429002 regarding an early bond repurchase.
Accordingly, Vietjet plans to repurchase the VJCH2429002 bond series on October 23, 2025. The funds for this repurchase will be sourced from the issuance of the VJC12503 bond, scheduled for September 2025.
The VJCH2429002 bond series, issued by Vietjet on September 30, 2024, consists of 10,000 bonds with a face value of VND 100 million each, totaling VND 1,000 billion.
As per the issuance announcement, these bonds have a 60-month term, are non-convertible, unsecured, and do not include warrants.
The purpose of this issuance is to cover operational expenses, including fuel costs, port fees, flight operations, technical maintenance, insurance, aircraft deposit payments (PDP), and other related expenses.
The interest rate for the first four interest periods is set at 11% per annum. For subsequent periods, the rate will be the reference rate plus a 4% margin, with a minimum of 11% per annum.
Vietjet intends to repurchase the entire VJCH2429002 series just over a year after its issuance.
In other developments, Vietjet’s Board of Directors has approved a resolution to adjust the plan for the private placement of VND 3,000 billion in bonds (first issuance in 2025).
The adjustments primarily focus on the purpose of the bond issuance, as detailed below:
Source: Vietjet
Regarding the use of funds from the first and second issuances, the amount and timing of disbursements will be based on the bond issuance results and actual business operations, starting from June 2025.
For the third issuance, the funds will be allocated according to the issuance results, aligning with the purpose of debt restructuring. The utilization of these funds is expected to begin in October 2025.
Additionally, Vietjet has amended and supplemented several provisions related to the basic terms and conditions of the bonds, including volume, timing, and capital utilization plans for each offering.
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