Becamex IDC Corporation (code: BCM) has just successfully issued bond code BCMH2427003, 3-year term with total mobilized value of 500 billion VND. The bond has an interest rate of 10.2%/year, maturing on August 14, 2027.
This is the fifth batch of bonds that Becamex IDC has successfully issued since the beginning of the year. In the previous four issuances, the company successfully raised VND1,200 billion. Thus, since the beginning of the year, the total value of bonds issued by Becamex IDC is VND1,800 billion. All of these bonds have a term of 3 years and mature in 2027.
Notably, in addition to raising capital through bonds, Becamex IDC is also planning to issue 300 million shares through public auction with a selling price of no less than VND50,000/share.
The company expects to raise at least VND15,000 billion from the above offering to develop a series of key industrial parks, contribute capital to existing companies, and restructure the corporation's finances. Of which, VND6,300 billion will be used for project investment, VND3,634 billion will be used for capital contribution to existing members, and VND5,066 billion will be used for financial restructuring.
The list of items expected to receive capital disbursement includes: Bau Bang Industrial Park expansion 3,500 billion VND, Cay Truong Industrial Park 2,800 billion VND, VSIP 2,118 billion VND, Becamex Binh Phuoc 900 billion VND, Becamex - VSIP Power Investment and Development Joint Stock Company 216 billion VND, Becamex Binh Dinh 200 billion VND, VSSES 200 billion VND.
Becamex IDC is currently focusing on implementing two key projects: Bau Bang Industrial Park (1,000ha) and Cay Truong Industrial Park (700ha), both in Binh Duong province. These are also the two projects that the company plans to invest the most capital in after issuing shares to increase capital as planned.
In particular, Bau Bang Industrial Park project has a scale of more than 2,000 hectares, including 50% industrial land and 50% urban service land, to meet all land rental needs of investors building factories. Currently, the project is in phase 2 with the name "Bau Bang Industrial Park Expansion", increasing the development scale by 1,000 hectares.
Meanwhile, Cay Truong Industrial Park has a planned scale of about 700 hectares, with a total investment capital of more than VND 5,459 billion, invested by Becamex IDC. The enterprise has approved the project investment plan, the expected construction period is from 2022 to 2026 and infrastructure leasing period is from 2022 to 2030. Some securities companies predict that Cay Truong Industrial Park can bring business cash flow to Becamex IDC in the next 3-5 years.
