Hoa Sen to issue VNĐ500 billion worth of bonds

In 2019, Hoa Sen Group plans net revenues and net profits of VNĐ31.5 trillion and VNĐ500 billion. — Photo ndh.vn

HÀ NỘI — Giant steel maker Hoa Sen Group is set to issue non-convertible corporate bonds worth a maximum of VNĐ500 billion (US$21.46 million).

The expected issue price is VNĐ100,000, the bond term will be two years and the coupon rate will be negotiated with investors.

The issuance is expected to take place this year.

Hoa Sen has informed shareholders it plans to issue shares and bonds or convertible bonds to existing shareholders, strategic partners and other investors.

It plans to issue shares to raise VNĐ 500-1,000 billion and convertible bonds to raise VNĐ500-1,000 billion.

In 2017-18 the company reported profits of VNĐ410 billion, down 69 per cent from the previous year and its lowest in the last four years.

This year the company targets net profits of VNĐ500 billion on revenues of VNĐ31.5 trillion. — VNS

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