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Becamex plans to raise $65 million via bonds
The board of directors of the Investment and Industrial Development Joint Stock Corporation (Becamex IDC) has approved the second corporate bond issuance plan this year.
The maximum total par value is VND1.5 trillion (US$65.2 million) and divided into three to five installments.
The bond term is expected to be from one to five years, with a par value of VND1 billion per bond, and is expected to be issued in the second or third quarter of this year.
The purpose of this bond fundraising includes increasing the operating capital scale of Becamex and restructuring the capital.
Previously, Becamex announced the issuance of two million private bonds for the first time on March 30 this year with a total issuance value of VND2 trillion. The bond has a maturity date of March 25, 2026.
Becamex recorded a total bond value of VND6.05 trillion by the end of the first quarter of this year.
Becamex achieved a revenue of approximately VND1.4 trillion in the first quarter of this year, up 14 per cent over the same period last year.
Its profit after tax grew by 40.9 per cent compared to the same period last year to VND468 billion.
Compared to the plan, Becamex has completed 15.7 per cent of the revenue target and 20.3 per cent of the target of profit after tax.
bizhub
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