The Ministry of Finance “spotted” the most bond-issuing real estate businesses
Recently, the Ministry of Finance has sent a report to the Government on the situation of the bond market in 2021 and the first quarter of 2022. Accordingly, the Ministry of Finance has named 20 real estate enterprises that borrow debt from corporate bonds. most in 2021.
Specifically, the total volume of bonds issued by these 20 enterprises last year reached over VND 100,000 billion, accounting for nearly half of the total bond issuance of real estate businesses in the year.
The real estate giants on the list include Nova Real Estate Group Joint Stock Company (Novaland) issuing VND 6,938 billion, Industrial Development and Investment Corporation – JSC (Becamex-IDC) issuing VND 6,000 billion. copper…
In addition, there are names such as Van Truong Phat Investment and Construction Joint Stock Company, Osaka Garden Joint Stock Company, Mediterranena Revival Villas Real Estate Company Limited, Hoang Phu Vuong Joint Stock Company and JSC Residence Investment and Development…
Notably, in many enterprises, the ratio of issuance volume to equity has reached dozens of times.
Specifically, Mediterranena Revival Villas Company with equity of only 153 billion dong, but last year has issued 7,200 billion dong of corporate bonds, equivalent to the issue-to-equity ratio of more than 47 times.
Meanwhile, Osaka Garden Company also has a bond issuance / equity ratio of this real estate developer up to 28.5 times when it issues 7,700 billion corporate bonds but equity. ownership only reached 270 billion dong.
In addition to the two enterprises mentioned above, a series of businesses are issuing bonds many times more than equity such as Van Truong Phat Investment and Construction Joint Stock Company 4 times; Hoang Phu Vuong Joint Stock Company and Residence Investment and Development Joint Stock Company are 6 times more.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here