TTC Sugar (SBT) to issue $30 million of unsecured bonds
TTC Sugar (SBT) to issue $30 million of unsecured bonds
TTC Sugar has announced it will offer VND700 billion (US$30 million) worth of unsecured bonds up for public auction.
The firm said the interest rate of the bonds in the first year would be 10 per cent in the first four quarters then a floating interest rate after that.
The firm expects to release the bonds in the first quarter next year with the minimum order for individual investors VND20 billion and institutional investors VND250 billion.
It said the non-convertible bonds were not guaranteed by assets in the maximum term of three years and were issued to pay for sugar purchase contracts in the first quarter of 2021
Sugar purchase contracts included those with Thanh Thanh Cong Gia Lai company worth VND288.4 billion, Bien Hoa - Ninh Hoa Sugar Company worth VND205.8 billion and Bien Hoa Dong Nai TTC Sugar Company worth VND205.8 billion.
As of September 30, TTC Sugar had total capital of more than VND18.4 trillion, total financial debt of VND8.6 trillion, in which bond loans reached nearly VND1.3 trillion. In addition, the firm has nearly VND153 billion of convertible bonds.
The shares of TTC Sugar with the sticker SBT gained 2.5 per cent to reach VND18,500 on the HCM City Stock Exchange (HoSE) yesterday
