16.09.2020, 23:50

Becamex IDC issued nearly 1800 billion dong of bonds

Becamex IDC issued nearly 1800 billion dong of bonds


Only in August, Becamex IDC issued nearly 1800 billion dong of bonds.


According to data from the Hanoi Stock Exchange (HNX), Investment and Industrial Development Corporation – Joint Stock Company (Becamex IDC, Ticker: BCM) raised nearly 1800 billion dong of bonds in August.


In which, there are two batches of two-year bonds with a total value of 290 billion dong, issued by the business on August 12 and August 31. There are 15 bond lots with a total value of 1500 billion dong, issued on August 28 with a term of 4 years.


Previously, at the end of July, Becamex announced plans to issue VND 1500 billion of bonds, collateral owned by enterprises or a third party.


Although being a listed company, Becamex IDC’s disclosed information does not specify interest rates, details of collateral, capital arrangements and bondholders.


Continuously recording positive profits, but in the last two years (2018 and 2019), Becamex IDC’s cash flow has decreased due to the payment of due debts.


In the immediate future, in November, Becamex IDC has 4 bond lots with a total value of VND 2000 billion, maturing at the same time. In which, bondholders include Bank for Investment and Development of Vietnam (1080 billion VND), Indovina Bank Limited (500 billion VND), Vietnam – Russia Joint Venture Bank (400 billion VND) and Investment and Development JSC (20 billion VND).


Regarding this year’s plan, Becamex IDC aims to achieve revenue of over 6000 billion VND and profit after tax of 931 billion VND, a decrease of 40% and 65% compared to the results of 2019.


In the first 6 months of the year, the business achieved more than 3773 billion dong in net revenue and nearly 651 billion dong in after-tax profit, corresponding to 63% of the revenue plan and 70% of the annual profit plan.


Source: vietnambiz.vn – Translated by fintel.vn

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