Hoa Binh Construction Group Joint Stock Company (HBC) has just issued a resolution approving the early redemption of the bond lot HBCH2225001.
Accordingly, on January 17, HBC will buy back 250 billion dong out of 500 billion dong of outstanding bonds of lot HBCH2225001. The source of the acquisition is from business/other sources.
The bond lot has a total par value of VND 500 billion, issued on January 27, 2022 with a term of 5 years. All proceeds from the issuance are used to supplement working capital, serving civil and industrial construction business.
Collateral is HBC shares and/or other eligible assets upon additional request of the collateral management agent.
| HBC is compensated 368 billion dong from Cocobay project. |
Regarding the financial situation, as of September 30, 2022, HBC recorded that out of 14,900 billion dong of liabilities, there were nearly 5,500 billion dong of short-term finance lease loans and more than 1,000 billion dong of finance lease loans. long-term.
Total balance of short-term and long-term finance lease loans is VND 6,500 billion. This is the reason why the company is “carrying” financial costs of hundreds of billions of dong.
In recent developments, HBC also announced the official victory of Thanh Do Investment Development and Construction JSC at Cocobay Danang project. Accordingly, Thanh Do is obliged to pay the principal amount to HBC of VND 367.6 billion.
The Arbitral Award is final, binding on the parties and takes effect from 6/12.
In case it is more than 30 days from the effective date of the Judgment, if Chengdu does not pay this amount, it will have to pay interest on late payment. The interest rate is 11.5-14.6%/year as stipulated in the contracts with the principal amount of more than 242 billion dong, and 10%/year for the remaining amount.