Bamboo Capital completes purchase of nearly $16m in pre-maturity bonds
Bamboo Capital completes purchase of nearly $16m in pre-maturity bonds
The recent acquisition signals a proactive step towards effective financial management and underscores the company's commitment to financial transparency and investor safety.
The renewable energy sector is a key pillar of Bamboo Capital's business activities. |
Bamboo Capital Group (BCG) has successfully completed the first phase of repurchasing VNĐ397 billion (US$15.8 million) worth of bonds, demonstrating a strategic financial approach amid the company's promising business activities.
The recent acquisition signals a proactive step towards effective financial management and underscores the company's commitment to financial transparency and investor safety.
BCG had previously announced plans to repurchase the BCG122006 bond series valued at VNĐ500 billion in two phases.
The first phase, involving VNĐ397.16 billion in bond repurchases, was finalised on January 20, 2025. The second phase, with the remaining VNĐ102.84 billion in bonds, is scheduled for completion by April 20.
With the successful completion of the first phase, Bamboo Capital has fulfilled its plan to repurchase 100 per cent of the bonds as outlined.
This bond repurchase represents Bamboo Capital's inaugural public bond issuance, adhering to stricter financial regulations compared to private issuances, ensuring enhanced transparency and security for investors.
Prior to the issuance, Bamboo Capital engaged independent entities for credit rating assessments, receiving positive evaluations on the issuer's role.
The BCG122006 bond series, issued successfully three years ago, has a five-year term.
The early bond repurchase aligns with Bamboo Capital's robust business performance.
Financial reports for the first nine months of 2024 reveal consolidated gross revenue reaching over VNĐ3.23 trillion, up 14.3 per cent year-on-year. Its profit after tax during the period surpassed VNĐ748 billion, quadrupling compared to the corresponding period in 2023.
BCG is poised for significant growth opportunities, particularly benefitting from new policies, especially in the renewable energy sector.
Regulations such as the Electricity Law (amended), Decree 135/2024/NĐ-CP, on promoting rooftop solar power development and Decree 80/2024/NĐ-CP on direct power purchase agreements (DPPA) offer promising prospects for expanding the renewable energy business segment.
Completion of the National Power Development Plan VIII will create a favourable legal framework, enabling Bamboo Capital to optimise its renewable energy development strategy, a core pillar of the group's business.
