While concerns about bad bond debt continue to rise, a series of businesses, including industry giants, are having difficulty paying bond debt, with dozens of bond lots continuously being delayed in payment.
Among them, we must mention Hung Thinh Group with names that are continuously late in paying bond debts such as Hung Thinh Land JSC, Hung Thinh Quy Nhon Entertainment Services JSC. Both of these enterprises regularly announce late bond repurchases as committed, late payment of principal and interest on due bonds.
Most recently, on October 2, Hung Thinh Land announced unusual information related to the early repurchase of bond code HTL-H2023-009. Accordingly, on October 2, the company is due to repurchase 188.9 billion VND of the principal debt of this bond lot. However, the company said that due to unfavorable developments in the financial market and real estate trading market, the company has not been able to arrange funds to repurchase the bond principal before the planned maturity.
The company committed to paying the entire amount by November 30, 2024 at the latest. This is also the maturity date of this bond lot. Previously, Hung Thinh Land had also delayed its payment obligations many times. Since 2023, the company has been late in paying 190 billion VND of the principal debt of this bond lot. By September 18, 2024, the bondholder had a Resolution requesting Hung Thinh Land to buy back 188.9 billion VND of bonds as committed. However, the company could not buy back because it could not arrange capital.
In addition to the above bond lot, a series of Hung Thinh Land bond lots also continuously extended payment, delayed payment of principal and interest, and delayed repurchase as committed such as: H79CH2123002; H79CH2124001; HTL-H2023-008; HTL-H2023-007; HTL-H2023-006... with the amount of late payment of thousands of billions of VND.
According to the report on principal and interest payments in the first half of 2024, Hung Thinh Land has 12 outstanding bonds with a total value of nearly VND 6,800 billion. The company has spent more than VND 266 billion to pay interest.
Another enterprise also belonging to the Hung Thinh group is Hung Thinh Quy Nhon Entertainment Services JSC with bond lots continuously late in payment obligations including: HQNCH2124007; HQNCH2124005; HTQNB2124001; HQNCH2124002... As of the end of June 2024, the 7 outstanding bond lots of Hung Thinh Quy Nhon have a total value of 7,500 billion VND.
Regarding the Novaland group, according to the unusual information announcement on the payment of principal and interest on NVLH2123009 bonds, as of September 19, the company had to pay more than VND800 billion in principal and interest for this bond lot (including more than VND750 billion in principal and more than VND50 billion in interest). However, the company has only paid more than VND100 million (VND77.7 million is principal payment). In addition, on September 16, Novaland was also late in paying VND173.5 billion for this bond lot.
In addition, in early September, Novaland delayed interest payments for 5 bonds with a total value of VND107 billion. Thus, in September, this group announced a delay in paying more than VND1,000 billion in bonds, including principal and interest.
A subsidiary of Novaland, No Va Thao Dien Company Limited, has only one bond lot NTDCH2227001 with an issuance value of VND 2,300 billion in circulation. However, the company is often late in paying the principal and interest of this bond lot.
Similarly, Hoang Anh Gia Lai Joint Stock Company is also late in paying the principal and interest of the HAGLBOND16.26 bond lot with an amount of more than 4,500 billion VND.
Accordingly, as of September 30, the principal amount of this bond lot that was overdue was VND1,015 billion and the accumulated interest on late payments was VND3,486 billion, totaling VND4,501 billion. This is also the largest debt of Hoang Anh Gia Lai.
