DIC GROUP BUYS BACK VND 1,000 BILLION WORTH OF CALLABLE BONDS FROM HDBANK

After buying back two lots of bonds before maturity in November 2022, Construction Development Investment Joint Stock Corporation (DIC Group - DIG) continued to buy an additional VND 1,000 billion of bonds.

DIC Group has bought back most of the bonds in 3 lots of bonds issued to HDBank at the end of 2021 (Photo: Zingnews)

Construction Development Investment Corporation (DIC Group - DIG) has just announced that it has successfully repurchased a lot of callable bonds (code DIGH2124001) with a total value of VND 1,000 billion. Accordingly, this real estate developer has bought back all VND 1,000 billion of outstanding bonds of lot DIGH2124001 and reduced the outstanding bonds of this issuance to VND 0. The bondholder of this bond lot is Ho Chi Minh City Development Commercial Joint Stock Bank. HCM (HDBank - HDB).

In fact, this is not the first batch of bonds bought back by DIC Group before maturity. Recently, this real estate developer has continuously made a move to buy back bonds.

Specifically, at the end of 2021, this company has issued a lot of bonds with code DIGH2124002 with a total value of VND 1,000 billion, maturing on September 30, 2024, interest rate of 11.85%/year. However, this batch of bonds was bought back by DIC Group of VND 539 billion on November 10, 2022, reducing the outstanding bonds in this issuance lot to VND 461 billion.

Similarly, for the bond lot code DIGH2124003 worth VND 1,500 billion, maturing on November 26, 2024, interest rate of 13.45% / year, the company also bought back VND 1,061 billion on November 10, 2022, reducing the remaining value to VND 439 billion. Thus, after the transaction, DIC Group still has about VND 900 billion of outstanding bonds in the above two lots.

It is known that all 3 bond lots of DIC Group have a term of 3 years, coming from 3 issuances at the end of 2021.

According to the financial report for the fourth quarter of 2022, these 3 bond lots are funds mobilized by the issuance of ordinary bonds with the only bondholder being HDBank. The total amount raised from these 3 lots is VND 3,500 billion.

(Source: Zingnews)