The debt is secured with 50,000 square metres of land plots in District 7, Ho Chi Minh City.
According to the Vietnam Asset Management Company (VAMC), the company has acquired the debt from Sacombank's Hoan Cau group with special bonds on August 31st.
The total value of the principal is VND2,400 billion (about US$105.8 million), and the total interest and fee are VND177 billion (about US$7.8 million).
Hoan Cau Khanh Hoa and Hoan Cau Nha Trang borrowed the debt from Sacombank. The collateral is the land plots, which cover about 50,000 square metres, of Hoan Cau Company Limited in District 7, Ho Chi Minh City.
The plots are intended for high-rise apartment building, trade and services. VAMC announced to look for a qualified and experienced unit to assess the debt (including the collateral).
Hoan Cau Khanh Hoa and Hoan Cau Nha Trang, two members of Hoan Cau Group, operate in real estate, banking, tourism and hotel sectors.
They are also the investors in such projects as Diamond City, Cantavil Hoan Cau (Ho Chi Minh City), Diamond Bay Cty resort (Nha Trang) and Da Lat Palace Golf Club.
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