I.P.A Investment Group Corporation (Code: IPA) has just repurchased 150 billion VND of bond code IPAH2124003, the repurchase date is October 4, 2024. Previously, IPA repurchased this bond code twice before maturity on June 27 and August 2, 2024 with a total purchase value of 540 billion VND for both periods.
This bond lot was issued on December 20, 2021, with a term of 3 years and a total mobilized value of VND 1,000 billion. After 3 rounds of early bond buyback, the outstanding bond lot is currently at VND 310 billion, maturing on December 20, 2024.
In addition to this bond lot, IPA has previously repurchased other bond codes. In particular, the company repurchased the bond code IPAH2124002 twice before maturity on June 27 and August 15, with a total value of 600 billion VND in the two repurchases. The current circulating value of this bond lot is 400 billion VND, maturing on November 15, 2024.
Also on August 15, IPA repurchased 600 billion VND of the IPAH2225001 bond lot before maturity, bringing the circulating value of the bond lot to 400 billion VND. This bond lot will mature on February 25, 2025.
Thus, since the beginning of the year, IPA has had 6 early bond buybacks, with a total buyback value of VND1,890 billion. After the buyback, the total outstanding value of these 3 bond lots is VND1,110 billion. Of which, VND400 billion matures in November, VND310 billion matures in December 2024, and the remaining VND400 billion matures in February 2025.
On the other hand, businesses are also continuously issuing new bonds, mobilizing thousands of billions of VND. Since the beginning of the year, IPA has issued 3 bonds with a total mobilized value of 2,148 billion VND.
Accordingly, on August 2, 2024, this enterprise issued 10,960 bonds with code IPAH2429003 with a face value of VND 100 million/bond, the issuance value is VND 1,096 billion. The bond lot has a term of 5 years, maturing on August 2, 2029. Interest Rate issued is 9.5%/year.
Regarding the issuance of IPA's bonds, in the Board of Directors' decision on the second private share issuance, IPA said that the purpose of the bond issuance is to restructure the bond debt for the codes IPAH2124002, IPAH2124003, IPAH2225001 currently in circulation.
The issuance of this bond lot is part of the roadmap for issuing a maximum of 5 bond tranches in 2024 approved by IPA Investment to mobilize a maximum of VND 3,210 billion.
Previously, on June 27, 2024, IPA successfully issued VND 735 billion worth of bonds coded IPAH2429002. The bond lot has a term of 5 years, maturing on June 27, 2029. The interest rate issued is 9.5%/year. On June 5, 2024, the company also successfully mobilized VND 317 billion worth of IPAH2429001 bonds. Similar to the bond lots issued this year, this bond lot also has a term of 5 years and an interest rate of 9.5%.
Thus, under pressure to repay maturing bonds, IPA had to borrow thousands of billions of new bonds to "reverse debt" and pay on time the above bonds.
According to data from the Hanoi Stock Exchange, IPA has issued a total of 7 bonds. Of which, the bond lot worth VND300 billion matured in April 2024. Currently, the company is circulating 6 bonds with a total issuance value of VND5,148 billion. After the buybacks, the total value of IPA's outstanding bonds is currently around VND3,258 billion.
