Sovico Group pays $2 million interest on corporate bond

Sovico Group pays $2 million interest on corporate bond

The tranche was issued with a face value of VNĐ1 trillion, with the offering opened on September 21, 2021, and completed on November 5, 2021.

The company reported the most recent March interest payments to HNX as the latest entries in its bond payment history. — Photo dnse.com.vn

Sovico Group has announced the payment of interest on a corporate bond tranche, continuing a record of timely coupon settlements, according to information from the Hanoi Stock Exchange (HNX).

Sovico Group has paid more than VNĐ52 billion (US$2 million) in interest on bond issue SVACH2124006. The tranche was issued with a face value of VNĐ1 trillion. The offering was opened on September 21, 2021, and completed on November 5, 2021. The effective coupon for the issuance is 10.5 per cent per annum.

SVACH2124006 is an ordinary corporate bond: non-convertible and unsecured. Proceeds from the issuance were earmarked to finance investment programmes and projects, increase working capital and restructure the issuer's funding profile.

Earlier this month, Sovico Group also made a similar interest payment. 

On March 10, the company paid more than VNĐ52 billion in interest on tranche SVACH2124005, which likewise carried an issuance amount of VNĐ1 billion.

Sovico Group is a non-public joint-stock company established on November 19, 2001, that operates primarily in financial investment activities.

Nguyễn Thị Phương Thảo serves as chairwoman of the board of directors, according to the company's website.

Financial results disclosed in the company's periodic filings to HNX show Sovico reported a net profit of nearly VNĐ1.8 trillion for the first half of 2024, up 14 per cent year‑on‑year.

In 2024, Sovico Group met interest‑payment obligations on time for 116 bond coupon periods. Individual coupon payments that year ranged from roughly VNĐ2.5 billion to nearly VNĐ105.9 billion per tranche, with coupon rates between 10 per cent and 10.5 per cent per annum. 

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