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VietCapital Securities (VCI) to offer $51.6 million bonds

Nov 7th at 11:29
07-11-2020 11:29:22+07:00

VietCapital Securities (VCI) to offer $51.6 million bonds

VietCapital Securities Corp (VCSC) will sell VND1.2 trillion (US$51.6 million) worth of bonds in 2020-21 to fund business activities and restructure debts.

 

The bonds will be sold in two phases. The first half of the package will be sold from November 2020 to January 2021 and the second half will be offloaded in June-August 2021.

The bond is due in 24 months with the annual interest rate of 7-9 per cent.

Income raised from bond issuance will be spent funding the proprietary trading and margin lending. Revenue and income from margin lending, proprietary trading and stock broking will help the firm settle interest with buyers.

Since the beginning of 2020, VCSC has settled VND1.24 trillion worth of bonds and VND103 billion worth of bond interest. After nine months, the company posted VND419 billion worth of post-tax profit and a 10 per cent return-on-equity (ROE) ratio.

VCSC shares, listed on the Ho Chi Minh Stock Exchange with code VCI, were flat at VND38,900 apiece on Friday.

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