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HCM: Resolution on a private bond placement
On August 19, 2011, Ho Chi Minh City Securities Corporation (HOSE: HSC) announced the resolution of the Board of Directors dated August 18, 2011 about approving a private bond placement:
The Board of Directors approved a plan to issue bonds as follows:
• Bond type: Unconvertible bond
• Par value: VND1,000,000,000/ bond
• Expected issue volume: 600 bonds
• Total expected issue value: VND600,000,000,000.
• Issue price: Equal to 100% par value
• Issue form: A private placement
• Bond term: 05 years
• Bond interest: A fixed interest rate of 14%/year for the first year. From the second year, the Corporation will apply floating interest rates which are equal to the interest rate of the Government’s 3-year bonds in the closest issue before the interest payment date and are added 2.0%/year
• Deferred interest and paid annually
• Currency unit: VND
• Purpose of the issue: The proceeds from the issue will be supplemented to the Company’s working Capital
• Rights and obligations of investors: According to Contracts/ agreements between the Corporation and particular investors
• Issue underwriting and settlement underwriting: None
• Asset-backed security: None
• Transfer restriction: Bonds are free to transfer from the finish date of the private placement
• Place of selling, payment of bonds: Bonds will be sold and paid for interest and principal directly in HSC’s head office
• Plan to pay interest & principal: From the Corporation’s annual revenue
• Time of implementation: In August 2011
• Engagements to bond holder: The bonds will not be listed on any markets. As from the issue date, a part or all of bonds will be bought back by the issuer at anytime although it’s not the mature time.
HOSE
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