Thu Duc housing developer to issue 600b dong of convertible bonds

Thu Duc Housing Development Joint Stock Co (coded TDH)’s director board has recently agreed a plan to issue six million convertible bonds worth 600 billion dong to invest in high-ranking real estate projects.

Accordingly, the bond issuance will be divided into two phases. In the first stage, TDH will issue 3,787,500 bonds, equalling to 378.75 billion dong of chartered capital and 2,212,500 bonds valued at 221.25 billion dong for big investors in the second phase.

These three year bonds with the face value of 100,000 dong/bond will have fixed coupon rate of 7 percent par.

The bonds issuance will be carried out from July 1 to September 30.
The capital raised from the bond issuance is to invest in five projects including Binh Khanh residential area and Cantavil Thu Thiem (200 billion dong), TDH-Phuoc Long project (100 billion dong), TDH-Phuoc Binh (100 billion dong), Phuoc Thinh Duc project (100 billion dong) and 378 Minh Khai-Hanoi project (100 billion dong).

 

Category: Stocks