DIC Corp completes buyback of $18.6 million in bonds
DIC Corp completes buyback of $18.6 million in bonds
Development Investment Construction (DIC Corp) said that it has fully redeemed the bonds it issued in September 2021.
The headquarters of DIC Corp in Bà Rịa - Vũng Tàu Province. — Photo dic.vn |
On September 30, the company successfully completed the buyback of 4,610 bonds, amounting to VNĐ461 billion (US$18.6 million), along with an interest payment of VNĐ27.77 billion for the bond series DIGH2124002.
These bonds were originally issued on September 30, 2021, and were set to mature on September 30, 2024, with a total issuance value of VNĐ1 trillion.
Following the buyback, DIC Corp's outstanding bond debt has been reduced to over VNĐ2.03 trillion.
Nguyễn Quang Tín, CEO of DIC Corp, said that the company committed to responsibly executing the early or on-time buyback of bonds, ensuring full interest payments to maximise benefits for bondholders.
Through a cautious management strategy, adherence to a transparent development roadmap and a structured business plan, DIC Corp consistently secured stable revenue to meet its bond obligations, while also mitigating financial pressure and preparing for future growth initiatives, Tín added.
In the first half of 2024, DIC Corp recorded a nearly 39 per cent increase in debt compared to the start of the year, adding over VNĐ1.2 trillion to reach a total of more than VNĐ4.3 trillion, which represents 54.8 per cent of its equity.
At the beginning of the year, the outstanding debt was VNĐ3.1 trillion, accounting for 39.4 per cent of equity.
On the stock market, the company's shares closed Tuesday at VNĐ21,300 per share, down 1.84 per cent over the previous session.
