According to information released by the Hanoi Stock Exchange (HNX) on September 5, Horizon Investment and Trading Services JSC is due to pay VND 8.6 billion in interest on bond code HRZCH2024002 on August 28, 2024, however, due to not being able to arrange the payment source in time, the company cannot pay as planned. Horizon Investment is expected to pay this amount on September 11, 2024.
Horizon Investment currently has 2 bonds in circulation , with a total value of 500 billion VND. These two bonds were both issued in 2020 with an interest rate of 11.5%/year, interest paid every 3 months, the depository is VPS Securities JSC.
Regarding these two bond lots, at the end of June, Horizon Investment announced the successful extension of both bond lots with a term of 48 months to 60 months, the maturity date was postponed from the end of July and August 2024 to the end of July and the end of August 2025.
Another enterprise, Ho Chi Minh City Service and Trading Joint Stock Company (SETRA), is due to pay interest on the 8th period of bond package SET.H2025.01 - SET.H2025.20 (20 codes) with a total value of VND82.7 billion on September 4. However, the Company has not yet been able to complete its payment obligation on time because it has not arranged a payment source and is handling assets to pay the principal and interest.
Not only was SETRA late in paying interest in period 8, but it was also late in paying interest in periods 5, 6 and 7 and the penalty interest arising from previous late periods. As of September 4, 2024, the total amount that the Company needed to pay had increased to nearly VND 445 billion.
In the first week of September, Nova Real Estate Investment Group Corporation (Novaland) continued to announce that on September 4, the company is due to pay interest on a series of bond codes: NVL2020-03-290, NVL2020-03-340, NVL2020-03-390, NVL2020-03-440, NVL2020-03-470 with a total interest payable of 107 billion VND.
However, Novaland cannot make the payment as planned. The company said it is arranging funds for payment, and is expected to pay the interest on these bonds on September 16.
Hung Thinh Land Joint Stock Company, a familiar name in the corporate bond market recently, has continuously appeared in the group of enterprises with slow bond repayment.
According to information published by HNX on September 9, Hung Thinh Land currently has 2 bond lots, HTLAND.2020.TV01 and HTL-H2023-005, due for mandatory principal repurchase on September 5, 2024, the maturity date of these 2 bond lots is November 28, 2024. However, the company said that due to unfavorable developments in the financial and real estate markets, the company has not arranged funds to repurchase the bond principal before the scheduled maturity date.
Hung Thinh Land commits to pay the entire amount due according to plan by November 28, 2024 at the latest.
