AsemconnectVietnam - The Board of Directors of DNP Holding (code DNP) has just approved the Company's plans to issue individual bonds in 2024 with two expected codes: DNPH2428001 and DNPH2428002.

With code DNPH2428001, the Company will issue a maximum of 1,500 bonds, with a face value of VND100 million/bond, to raise a maximum of VND150 billion. The bonds have a term of 48 months; the interest rate applied for the first 3-month interest rate determination period is 10.5%/year. The interest rate applied from the 2nd interest rate determination period onwards is a floating interest rate, adjusted every 3 months and determined by the base interest rate plus a margin of 4%/year, but not less than 11%/year.
This is a non-convertible bond, without warrants and secured by assets. DNP will secure 15 million DNP shares and all rights and interests arising from/related to them. The value of the secured assets is VND344.25 billion according to the appraisal certificate on September 9, which is VND22,950/share.
DNP said that the purpose of issuing this bond lot is to restructure the Company's debts at commercial banks. The implementation time of this plan is expected to be in September-October 2024.
With the code DNPH2428002, DNP plans to issue a maximum of 500 bonds, with a face value of VND100 million/bond, to mobilize a maximum of VND50 billion. The bonds have a term of 48 months, and the applicable interest rate is expected to be similar to the DNPH2428001 bond lot.
This is a non-convertible bond, without warrants and secured by 5 million DNP shares and all rights and interests arising from/related to it. Together with the appraised price on September 9 of VND 22,950/share, the value of DNP's collateral is VND114.75 billion.
The purpose of issuing this bond lot of DNP is also to restructure the Company's debts at commercial banks. The expected issuance time is in November - December 2024.
At this time, DNP Holding is still circulating a bond lot coded DNPH202501 issued on November 27, 2020, with a term of 5 years, the total value of the bond is VND300 billion. The purpose of issuance is to increase the capital scale for the Company's plastic production and business activities. The total interest paid by DNP as of June 30, 2024 is nearly VND95.1 billion, the principal paid is VND100 billion, so the current outstanding bond debt is VND200 billion.
Regarding DNP's business situation, in the first half of 2024, the company's consolidated net revenue reached VND4,029 billion, up 15% over the same period last year thanks to growth in the clean water, plastic and household appliances segments. However, after-tax profit only reached approximately VND56 billion, down more than half compared to last year, mainly because last year the Company recorded profits from transferring shares of some subsidiaries and associates in water industry units.
On the stock market, at the close of trading on September 30, DNP shares decreased by 8.58%, down to only VND 24,500/share. Trading volume increased dramatically to nearly 3.3 million units, the highest level in the past year.
N.Nga
Source: VITIC/Tinnhanhchungkhoan