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Vietjet raises VNĐ3 trillion from bond issuance
This is the third batch of bonds issued by Vietjet in the fourth quarter of 2024.
The funds raised are expected to restructure Vietjet's debts. — Photo courtesy of Vietjet
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The Hà Nội Stock Exchange (HNX) on Monday revealed the results of Vietjet's bond issuance.
From December 11 to December 19, Vietjet successfully offered 30,000 bonds with the code VJCH2429006.
These bonds, with a five-year maturity, were issued in the domestic market with a face value of VNĐ100 million (US$3,930) per bond, raising approximately VNĐ3 trillion.
This is the third batch of bonds issued by Vietjet in the fourth quarter of 2024.
On October 25 and November 29, the low-cost carrier issued two other bonds with the codes VJCH2429004 and VJCH2429005, each valued at VNĐ1 trillion and also with a five-year maturity.
In mid-October, Vietjet's Board of Directors passed a resolution approving the issuance ofindividual bonds worth VNĐ5 trillion. These non-convertible, non-warrant bonds are not secured by assets.
The funds raised are expected to be used by Vietjet to restructure the company's debts, including the repayment of principal on bonds due, such as VJCH2124005 worth VNĐ1 trillion that was due on October 27, VJCH2124006 (VNĐ1 trillion, due on December 1), and VJCH2124007 (VNĐ3 trillion, due on December 27).
Regarding the company's operational status, Vietjet is currently seeking shareholder feedback on proposals for private share placements and using proceeds from the bond offerings. The deadline for shareholder feedback is December 26.
Per the disclosed plan, Vietjet will offer 50 million shares at a bid price of VNĐ100,000 per share, aiming to raise VNĐ5 trillion.
Two expected investors in this issuance are Dynamic & Development Investment JSC and Aviation Holdings Company. The issuance rate is set at 9.23 per cent, projected to increase the company's charter capital to nearly VNĐ5.92 trillion.
Of the expected VNĐ5 trillion raised from the share offering, Vietjet plans to allocate VNĐ1.8 trillion to repay MBB credit contracts due on September 1, VNĐ1.5 trillion for VietinBank credit contracts due on July 29, VNĐ1.2 trillion to repay credit contracts due on May 22 at Vietnam Maritime Commercial Joint Stock Bank, and VNĐ500 billion to repay credit contracts due on November 26 at Vietnam International Commercial Joint Stock Bank.
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