Hung Thinh Icons Joint Stock Company (under Hung Thinh Group) has just announced the resolution information after consulting with bondholders with bond code HTNBH2122002 with an extension of 1 year compared to the old term.
Specifically, the HTNBH2122002 bond lot was issued by Hung Thinh Icons on December 31, 2021, with a term of 12 months, and a total value at par value of VND 300 billion. The bonds matured on December 31, 2022, and according to the plan, the company will pay off interest and principal on January 3, 2023. However, the company only paid VND 98 billion, including VND 90 billion of outstanding principal and more than VND 8 billion of interest. The bondholders approved the plan to pay the remaining bond principal (VND 210 billion) in multiple installments on the 25th of each month, with the first payment being on March 25, 2023. Compared to the old maturity date, this bond lot has been extended by 1 year. The interest rate for the unpaid amount is still applied at 17.75%/year as per the bondholder resolution dated January 12, 2023.
Many businesses successfully negotiated bond payment extensions
Previously, Hung Thinh Land Company (also part of Hung Thinh Group) was also granted a 6-7 month extension by bondholders to pay for 2 bond lots with a total value of 900 billion VND.
Similarly, Tien Phuoc Group Corporation (TPG) also announced the resolution of the bondholders' conference approving the adjustment of the maturity period by 2 years for 2 bond lots. Specifically, lot GTPCH2123001 will mature on March 25, 2025 instead of March 25, 2023 and lot GTPCH2123002 will mature on April 6, 2025 instead of April 6, 2023.
The conference also approved changes to some contents related to the early withdrawal of bonds. Specifically, in the case that Tien Phuoc only withdraws a part of the bonds before maturity but the number of bonds registered by bondholders to transfer back exceeds the number of bonds to be withdrawn, the enterprise has the full right to decide to withdraw the entire number of bonds registered to be transferred back before maturity. Or the enterprise will prioritize the early withdrawal of the bonds in the order of the time of registration of transfer by the owner according to the list prepared by the agent...
These two bonds, worth a total of VND500 billion, were issued in March 2021 and April 2023, both with a term of 2 years. The bonds are secured by 20 million shares of the company owned by shareholders along with land use rights and assets attached to the land at the two villas.
Source: https://thanhnien.vn/tiep-tuc-co-doanh-nghiep-dam-phan-thanh-cong-gia-han-thoi-gian-thanh-toan-trai-phieu-18523032609125548.htm
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