VDSC is planning a private placement of 8,000 bonds with the code VDS12502, targeting individuals and/or organizations that meet the qualifications of professional securities investors.
As scheduled, the offering will take place on May 13, 2025, with a one-year term and a “triple-no” feature – non-convertible, without warrants, and unsecured. The bonds offer a fixed interest rate of 8% per annum, payable monthly, and the principal is repayable in a lump sum at maturity.
With this bond offering, VDSC aims to raise approximately VND 800 billion to restructure its debt. The company further stated that, until the bond principal payment and/or bank loan repayment are due, the proceeds will be used for fixed deposits (through fixed deposit contracts at the bank where the bond purchase money receiving account is opened) or kept in the bond purchase money receiving account.
On March 4, 2025, VDSC also conducted a private placement of bonds with the code VDS12501 for professional investors, with a similar tenor, structure, and purpose. The previous offering was smaller in scale, with 5,000 bonds issued, raising VND 500 billion, but offered a higher fixed interest rate of 8.2% per annum.
According to data from HNX, VDSC currently has four outstanding private placement bonds with a remaining value of nearly VND 2,980 billion. Of these, three bonds will mature sequentially in May, July, and October 2025.
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List of VDSC’s Outstanding Private Placement Bonds
Source: HNX, Compiled by the author
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According to VDSC’s Q1/2025 financial statements, as of March 31, in addition to the above bond debt, the company also had short-term bank borrowings of VND 433 billion, mainly from domestic banks. These two items account for a significant proportion of the company’s total liabilities of over VND 3,502 billion.
In terms of business results, the company faced a challenging first quarter, posting a net profit of just over VND 19 billion, an 84% decrease compared to the same period last year, reflecting a decline in various business segments, especially proprietary trading and brokerage.
Commenting on the Q1/2025 performance at the 2025 Annual General Meeting, Chairman Nguyen Mien Tuan stated that while the company turned a profit, it fell short of its plans, achieving only 15% of the revenue target and 6% of the profit target. The market conditions in the first quarter adversely affected the brokerage, proprietary trading, and investment banking segments.
– 20:00 07/05/2025
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