Hoang Son 2 Energy Investment Joint Stock Company has just announced a resolution for bond holders related to extending the 500 billion VND bond batch for another 2 years, while adjusting the payment schedule and bond interest rates.
Accordingly, Hoang Son 2 Energy has announced information according to Bondholder Resolution No. 1217/2024/NQ/NSHTP-HS2 dated July 1, 2024. Bond batch HS2.H.20.23.001 was extended for another 2 years, maturity date is March 25, 2025. The bond interest rate applied during the 2-year extension is 8%/year. The payment progress is divided into 3 periods, the first 2 payments will be in 2024, the 3rd payment will be on March 25, 2025.
Regarding this batch of bonds, on July 5, 2024, Hoang Son 2 Energy bought back 39.769 billion VND before maturity, bringing the remaining volume after redemption (at par value) of bond batch HS2.H.20.23 .001 is more than 464.23 billion VND.
Hoang Son 2 Energy's main business areas are: Investing in businesses in the energy field.
According to the 2023 financial statements, the company lost 77.4 billion VND, last year Hoang Son 2 Energy also recorded a loss of 66.7 billion VND. By the end of 2023, the business's equity is at 38.6 billion VND, down 66.7% compared to the capital of 116 billion VND in 2022.
The debt/equity ratio is at 14.55 times, equivalent to the business's liabilities at the end of 2023 at VND 561 billion, a sharp increase of 15% compared to 2022. Thus, liabilities Hoang Son Energy 2's payout is 14.5 times higher than the company's equity.
Outstanding bond debt/equity is at 12.95 times, equivalent to outstanding bond debt at the end of 2023 at 499 billion VND, unchanged compared to 2022.
Similarly, Vinh Xuan Real Estate Co., Ltd. also continuously announced amendments and supplements to the terms and conditions of bond codes VINHXUAN2020-01, VINHXUAN2020-02, VINHXUAN2020-03. Accordingly, all bond codes are extended for another year, maturing in June and July 2025.
Vinh Xuan Real Estate continuously requests to extend bond payment deadlines in the context that the business is facing great debt repayment pressure and continuously operating at a loss. Vinh Xuan Real Estate's 2023 financial statements recorded a loss after tax of 19.4, and in 2022 the company also reported a loss of 1.2 billion VND.
As of December 31, 2023, Vinh Xuan's equity reached 252.2 billion VND, down 7% compared to 2022. The debt/equity ratio is at 4.23 times, corresponding to liabilities. at 1,066 billion VND, a slight increase of 1.3% compared to 2022.
Of which, the outstanding bond debt of the enterprise is 1,000 billion VND, accounting for 93.8% of the debt structure. Notably, the total debt of Vinh Xuan Real Estate is 4.2 times higher than the company's equity.
A real estate "giant" that continuously makes positive moves in debt restructuring and loan rescheduling is Novaland Group, which recently approved a plan to restructure a batch of 300 million USD convertible bonds.
The principal balance (after interest) corresponding to the effective date from July 5 of the restructuring plan is 320.9 million USD. The payment deadline for this batch of bonds is extended to June 2027 or redeemed before maturity.
At the end of June, Novaland received approval from bondholders to extend 8/17 batches of NVL2020 bonds with a total issuance value of nearly 3,200 billion VND, changing the bond term to 60 months, or due from June. - August 2025. The Group's subsidiaries also reached similar positive agreements.
In the first week of July 2024 alone, 9 businesses announced delayed payments of bond principal and interest and changed bond terms and conditions, mainly extending the bond term by 12-24 months.
