NewCo Service JSC has announced its successful issuance of $261 million worth of corporate bonds to Techcombank in early May, as part of an attempt to upsize its working capital for ongoing operations.
The bond is designated to mature in 18 months, on a mixture of fixed and floating interest rates and mortgaged against NewCo’s properties in Phu Quoc island, shares of a listed company and equity at New Vision,.
The coupon for the first three-month maturity, as circulated by NewCo to the Hanoi Stock Exchange, stands at 10.35 per cent a year. The interest rates for the following three-month and six-month terms will vary between 2.42 and 3.42 per cent, plus the mid- to long-term borrowing rates referenced by Techcombank.
Techcombank has been reported to be the sole buyer of NewCo’s bonds while Techcombank Securities is the placement agent of the bond issuance.
Prior to the $261-million bond issuance, NewCo intended to issue 26 million corporate bonds in March, at the face value of $4.3 a piece on a 14-month tenure, due to a change in business plans.
NewCo Service JSC has a chartered capital of roughly $68 million.
According to NewCo, the company will continue focusing on its core business of real estate in the coming tine.
NewCo has indicated its plan to acquire part of the Grand World project in Phu Quoc, which is developed by NewVision. In particular, NewCo plans to acquire seven condotel buildings with 5,492 units, of the grand project.
Tags:
Tags:
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
Scheduled for completion in 2027, the logistics facility will be the first of its kind in Vietnam significantly boosting parcel processing capacity up to 7 million parcels daily.
Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.
Amid global economic volatility, WHA Group has rapidly rolled out multiple expansion projects in Vietnam, signaling its strategic focus on the country.
Hai Phong Port JSC. has inaugurated international container terminals No. 3 and 4 at Lach Huyen, raising its throughput capacity to 3.5 million TEUs per year.
Hoang Huy expects revenue to exceed VND4 trillion and post-tax profit to reach up to VND2 trillion in fiscal year 2025-2026, targeting annual growth of over 30% for the next five years.
