Nam Long Investment Corporation (NLG Corp) announced Board Resolution No.18 dated July 04, 2014 as follows:
Article
1:
The Board of Directors approved to a plan to issue bonds with main following
contents:
1) Plan:
Bond Issuance
2) Total
issue par value: VND350 billion
3) Bond
type: unconvertible bond
4) Term:
03 years
5) Interest
rate:
·
First term: 10%/year (06 months from the date
of disbursement)
·
Floating rate; adjusted every 06 months; equal
to the average of 12-month-term saving interest rates paid at the end of each
term of 04 commercial banks (Vietinbank, BIDV, Vietcombank and OCB) at a
determination date plus 2.5%/year (the interest rate is estimated to be
10%/year).
·
The interest will be paid every six months.
6) Expected
collateral:
·
Land-use right of Ehome 5;
·
A part of property is being mortgaged at HD
Bank and other property (if any).
7) Expected
service fee:
·
Consulting fee: 0.5% total par value of
successfully-issued bonds
·
Fee of payment agent, collateral management,
account management: 0.5%/year on total par value of bonds which are not due.
·
Rights to buy bonds before maturity:
·
After 01 year, on the issue date, Nam Long
has the right to buy all or a part of bonds at par value on the interest rate
adjustment time (30 days prior notice) and not charged.
8) Rights
to sell bonds before maturity:
·
Bondholder can sell bonds at par value after
1.5 years as follows:
·
After 1.5 year: VND200 billion
·
After 2.5 year: VND100 billion
·
At the end of the third year: VND50 billion
·
Account receivable management (at OCB bank):
100% revenue from Ehome 5 and profit after tax from Ehome 3 of Nam Long IC will
be transferred to Nam Long’s account and managed by bondholders.
Article
2:
The Board of Directors authorized Chairman cum Legal Representative Nguyen Xuan
Quang to sign documents relevant to the bond issuance.
