Nam Long Investment will raise trillions to invest in its subsidiaries

DNHN - Nam Long Investment Joint Stock Company wants to issue bonds to increase investment capital for project development at Nam Long VCD Joint Stock Company (a subsidiary of Nam Long Investment).

The Board of Directors of Nam Long Investment Joint Stock Company (NLG) has just approved the plan to issue bonds in the form of individual bonds with a total issuance value of up to 1,000 billion VND.

The bond is expected to have a term of up to 7 years, this is a non-convertible bond, without warrants, secured by assets which are shares of Nam Long in a subsidiary (Nam Long VCD Joint Stock Company) and joint venture company (NNH Mizuki Joint Stock Company). 

In which, the annual fixed interest rate is calculated as the sum of the fixed basic interest rate in VND plus the margin of 3.5%/year.

The purpose of issuing bonds is to increase investment capital for project development at Nam Long VCD Joint Stock Company (a subsidiary of NLG).

The bond offering is expected to be divided into two phases, the first phase is expected to mobilize a maximum of 700 bonds, equivalent to 700 billion VND, expected to be issued in the first quarter of 2022. The money raised is used for compensation, site clearance and infrastructure construction.

Phase 2 the company will mobilize 500 bonds after the first offering, corresponding to the maximum amount of 500 billion VND. However, the total of two issuances does not exceed 1,000 bonds, which are expected to be issued in the third quarter of 2022.

The money raised in this phase will be used to continue developing infrastructure, building works or paying land use fees.

 PV