Hưng Thịnh Land Settles Nearly VND 140 Billion in Interest Payments for Two Bond Lots

Hưng Thịnh Land Corporation recently submitted a document to the Hanoi Stock Exchange and bondholders, disclosing details regarding the payment of principal and interest on its bonds.

According to the report, July 7, 2025, was the scheduled payment date for over VND 41 billion in interest on the H79CH2124018 bond series. However, the company only managed to make this payment by October 15, 2025. The delay was attributed to unfavorable conditions in the financial and real estate markets, which hindered the issuer’s ability to secure the necessary funds for timely interest payments.

For the same reason, on October 15, 2025, Hưng Thịnh Land paid more than VND 98 billion in interest for two installments of the H79CH2124019 bond series, originally due on May 19, 2025, and August 18, 2025.

Both bond series were issued between July and August 2021, with values of VND 1,500 billion and VND 1,800 billion, respectively.

The initial term was 36 months, but on September 23, 2023, bondholders approved an extension to 60 months, with maturity expected between July and August 2026.

These non-convertible bonds, without warrants, are guaranteed and secured by assets, featuring a combination of fixed and floating interest rates.

The proceeds from the issuance are intended to supplement working capital, facilitate mergers and acquisitions of companies or real estate projects, and collaborate with partners to develop promising real estate ventures.

The collateral for these bonds includes shares in Hưng Thịnh Corporation and Hưng Thịnh Land held by related individuals and organizations, as well as shares in another real estate company owned by affiliated parties.

Additionally, the bonds are secured by equity in a related real estate company and property rights and land use rights associated with the Mai Chí Thọ Project, pending eligibility for mortgage under Vietnamese law.

Hưng Thịnh Land, a subsidiary of Hưng Thịnh Corporation, specializes in real estate management. The company currently owns and develops 59 projects across Vietnam, with a land bank exceeding 3,300 hectares in strategic locations.

Notable projects include Moonlight Avenue (Ho Chi Minh City), New Galaxy Nha Trang (Khanh Hoa), New Galaxy (Ho Chi Minh City), and Grand Center Quy Nhon (Gia Lai).

As of June 30, 2025, the company’s equity reached over VND 18,538 billion, an increase of VND 313 billion compared to the same period last year.

In the first half of 2025, Hưng Thịnh Land reported a net profit of nearly VND 15 billion, a significant improvement from a net loss of over VND 632 billion in the same period the previous year.

By the end of Q2 2025, total liabilities decreased from VND 62,368 billion to VND 54,928 billion, 2.96 times the equity. This reduction was primarily due to a VND 1,687 billion decrease in bond-related debt, down to VND 15,477 billion, and a VND 6,360 billion reduction in other payables, down to VND 36,787 billion.