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REAL ESTATE FIRMS RESUME ISSUING BONDS
Real estate businesses have issued nearly VND12 trillion worth of corporate bonds since Government Decree 08 came into effect on March 6.
The decree enables corporate bond issuers to extend coupon payments by up to two years and swap debt for assets provided that they secure prior approval from bondholders.
Some articles of Decree 65/2020 were suspended until December 31 this year. These provisions require professional individual investors to hold a bond portfolio totaling at least VND2 billion for 180 days or longer, and debt-issuing organizations to report their credit ratings and sell their bonds within 30 days.
Luxury Living Furniture Trading Company issued bonds worth VND4.8 trillion on March 13, with an annual coupon rate of 9%, according to data from the Hanoi Stock Exchange.
Nam An Investment and Trading JSC offered VND4.7 trillion in 18-month bonds with a coupon rate of 13% per year.
Likewise, Dream City Villas Real Estate Trading Company launched a VND2.3 trillion bond issue, with a five-year term and an annual coupon of 6%.
On March 9, Thu Do Investment, Trade, Import and Export JSC and Ha Thanh Trading and Investment JSC issued bonds worth VND40 billion and VND45 billion, respectively, with a coupon of 12% per year.
Source: The Saigon Times
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