Pork producer issues bonds to raise $87 mln
Pork producer issues bonds to raise $87 mln
Pork producer Masan MeatLife has announced it is issuing roughly 20 million bonds to raise nearly VND2 trillion ($86.9 million).
A box of MeatDeli pork produced by Masan MeatLife. Photo courtesy of Masan MeatLife.
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The unsecured, non-convertible bonds have a term of 60 months, and an annual interest rate of 9.5 percent in the first 12 months, 3.9 percent in the following six months, plus an average interest rate for deposits at four state-owned banks.
Individual investors have to register to buy bonds worth at least VND50 billion, and institutional ones of at least VND500 billion.
Masan MeatLife, which sells pork branded MEATDeli, made total revenues of over VND10.23 trillion in the first half of this year, seeing a year-on-year increase of 42 percent, and gross profits of approximately VND1.31 trillion, up more than 9 percent on-year.
As of the end of June, the company’s total assets stood at roughly VND19 trillion, with its due debts over VND10.18 trillion.
