Gelex (GEX) continues to buy back 3 lots of bonds worth 1,200 billion VND
Gelex Group (Gelex, GEX) has just continued to buy back 3 lots of bonds with a total value of VND 1,200 billion. These bonds are issued in 2020 and 2021, with maturities of 3 years.
The redemption price is equal to the par value of the bond (VND 100 million/bond) plus the bond interest calculated on the actual number of days. It is known that the purchase of bonds before maturity is a remarkable move of many businesses today, especially the real estate group after the Tan Hoang Minh event.
Not only the repurchase, the amount of bonds of the real estate group also dropped dramatically in April. According to the latest report from SSI Research, the amount of corporate bonds issued by real estate enterprises has decreased sharply, from 26,000 billion in the same period last year. only 820 billion VND in April 2022.
As of March 31, 2022, the Company’s total assets recorded more than VND 61,522 billion with outstanding loans accounting for 65% of VND 39,787 billion. In which, the outstanding balance of Gelex bank is at 22,776 billion VND (7,773 billion short-term and 15,003 billion long-term), down from the beginning of the year. The Company’s current bond outstanding is approximately VND 7,000 billion.
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