More than 7,000 billion VND of bonds from investors continue to “flow” to Novaland
No Va Real Estate Investment Group Joint Stock Company (Novaland, code: NVL) has just announced that it has completed the issuance of two lots of bonds to the domestic market with a total mobilized value of VND 783 billion.
Both of the above bonds were issued on March 31 and completed on May 31. The bond lot is VND 157.3 billion with a term of 18 months, maturing on September 30, 2023. Lot 625.7 billion has a term of 12 months, due on March 31, 2023. Information about interest rates, bondholders, and issuance purposes are not disclosed by Novaland.
Previously, at the end of May, Novaland also announced that it had raised VND5,774 billion through two bond lots, reaching 98.28% of the total registered volume for sale. Bondholders are two foreign investors Dallas Vietnam Gamma and Credit Suisse AG Singapore Branch.
After the issuance, Novaland’s total debt increased from 57,317 billion dong to 63,091 billion dong, of which short-term debt is 15,121 billion dong, long-term debt is 47,970 billion dong. Outstanding bond outstanding is at 33,445 billion dong, debt/equity ratio is 2.34 times.
In addition to capital from newly issued bond lots, Novaland recently received an investment of USD 250 million from an investment fund group led by Warburg Pincus.
This capital will be allocated by Novaland to increase the land fund and develop existing projects in strategic locations, taking advantage of the gradually improving infrastructure in the South. In this transaction, Credit Suisse acts as financial advisor to Novaland.
Recently, in the report on the situation of the corporate bond market in 2021 and the first quarter of 2022 that the Ministry of Finance sent to the Prime Minister, Novaland was on the list of 20 real estate enterprises that issued a large amount of bonds. Accordingly, in 2021 alone, Novaland issued VND6,938 billion.
Regarding Novaland’s business activities, in the first quarter of 2022, the company earned net revenue of 1,956 billion dong, down 57% compared to the same period last year, mainly due to a decrease in revenue from real estate transfer. Novaland’s profit after tax reached VND 1,046 billion, up 49% over the same period last year.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
