The latest batch of TLPCH2427002 bonds has a volume of 9,000tp, with a face value of 100 million VND each and a 3-year maturity, maturing on 16/09/2027.
The bonds are of the “3 no’s” variety: non-convertible, without warrants, and unsecured. They are held by An Binh Securities (ABS). Bondholders receive an initial interest rate of 10% per annum and are repaid the principal in a lump sum at maturity.
According to the bond terms, after a period of 2 years from the issuance date, the issuing organization has the right to send a buyback notice to repurchase the bonds before their maturity on any repurchase date. Bondholders have the right to choose to reject or sell back any amount within the range of bonds they hold.
About a month ago, the owner of the Thang Long Thermal Power Plant also raised about 900 billion VND from the TLPCH2427001 bond lot. This lot has exactly the same characteristics as the above lot, from interest rates to maturity dates.
Currently, the Company still has TLPCH2126001 bonds in circulation, raised in 2021, worth more than 1,120 billion VND, and maturing at the end of 2026. Subsequent reports from Thang Long Thermal Power showed that the Enterprise had its first early repurchase in February 2022, with a total of 12 times so far. In particular, there were 9 repurchase periods in 2024 alone, reducing an additional 171 billion VND and bringing the debt to bondholders to 522 billion VND.
In the first half of 2024, Thang Long Thermal Power recorded a post-tax loss of 458 billion VND, an improvement from a loss of 528 billion VND in the same period last year. As of 30/06/2024, owner’s equity was recorded at approximately 3,600 billion VND. Total liabilities were nearly 10,000 billion VND, of which bond debt was more than 570 billion VND.
The Company is the investor of the Thang Long Thermal Power Plant project in Quang Ninh Province. The thermal power plant has a capacity of 620MW with a total investment of more than 20,000 billion VND. The project was started in 2014 and completed after 45 months.
Business results for the first half of 2024 of Thang Long Thermal Power. Source: Thang Long Thermal Power
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 Thang Long Thermal Power Plant. Source: Geleximco
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