According to the Hanoi Stock Exchange (HNX), Saigon Glory LLC announced its bond repurchase results for August 2025.
Specifically, on August 26, 2025, Saigon Glory repurchased portions of three bond series.
The company repurchased VND 19.81 billion of SGL-2020.07 bonds, reducing their outstanding value to VND 930.66 billion.
It also repurchased VND 19.87 billion of the VND 950.31 billion SGL-2020.06 bonds, lowering the outstanding value to VND 930.44 billion.
On the same day, Saigon Glory repurchased VND 19.76 billion of SGL-2020.08 bonds, reducing the outstanding value to VND 930.82 billion.
Source: HNX
Thus, the total outstanding value of the three bond series SGL-2020.06 to SGL-2020.08 is approximately VND 2,792 billion.
On August 28, 2025, Saigon Glory continued repurchasing portions of two more bond series.
It repurchased VND 19.93 billion of SGL-2020.09 bonds, reducing the outstanding value to VND 930.25 billion, and VND 19.81 billion of SGL-2020.10 bonds, leaving an outstanding value of VND 930.65 billion.
Therefore, the total outstanding value of the two bond series SGL-2020.09 and SGL-2020.10 is approximately VND 1,861 billion.
In addition to these five bond series, The Spirit of Saigon developer also has five other bond series in circulation, coded from SGL-2020.01 to SGL-2020.05.
Saigon Glory has been actively repurchasing bonds since its ownership change in September 2024. On September 20, 2024, the bondholders’ representative agreed to allow Bitexco Group (Saigon Glory’s parent company) to transfer the bond collateral—its equity stake in Saigon Glory—to Phuong Dong Ha Noi Real Estate LLC.
This transfer does not alter Saigon Glory’s obligations to bondholders or the resolutions previously approved by bondholders.
The Spirit of Saigon project, originally named the Ben Thanh Quadrilateral office-commercial-service-residential-6-star hotel and hotel office complex, is located on an 8,537 m² plot at the intersection of Le Thi Hong Gam, Calmette, Pham Ngu Lao, and Pho Duc Chinh streets, opposite Ben Thanh Market and Metro Line 1 station.
Rendering of The Spirit of Saigon Project
The original design features a 224-meter-tall complex with two towers connected by a retail podium. The 55-story West Tower includes 37,400 m² of Ritz Carlton hotel space (250 rooms) and 17,800 m² of Class A office space. The 48-story East Tower comprises 58,400 m² of luxury residential space, housing 350 high-end apartments.
Initially owned by Bitexco Group with a $500 million investment, the project underwent multiple ownership and name changes before the 2024 transaction, experiencing significant delays.
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