FCN: Plans for bond issuance and bank borrowing

FECON Corporation announces the plan for private placement of bonds as follows:

-       Issuer: FECON Corporation

-       Bond name: FCN_BOND2019

-       Par value: VND1,000,000

-       Estimated issue volume: 100,000 bonds

-       Bond term: 02 years

-     Interest rate: equal to the average rate of individual saving interest rates in VND, deferred payment, term of 12 months, quoted by: BIDV, Vietinbank, Vietcombank and Agribank, plus 3.5%/year. 

-       Bond form: book-entry

-       Bond type: non-convertible, secured bond

-       Issue method: private placement

-       Issue agent: KB Securities Vietnam Joint Stock Company

-       Estimated issue date: March 2019

-       Estimated investor: Maritime Bank

Board Resolution No.040/2019 dated March 01, 2019:

According to the Board resolution dated March 01, 2019, the Board of Directors of FCN approved to propose to borrow VND80 billion from Agribank – Thu Do Branch in order to increase the working capital of Pha Le Plastics Joint Stock Company. The loan term will be 12 months. 

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