Masan successfully mobilized 2 bonds worth 1,500 billion VND before the bond lot of equivalent value matured on September 25, 2022.
On September 22, 2022, Masan Group Joint Stock Company (Stock Code: MSN) has just announced the successful mobilization of 2 bond lots worth 1,500 billion VND.
According to published information, two bonds have just been issued by Masan with codes MSNH2227003 and MSNH2227004 with the value of 700 billion and 800 billion dongs, respectively.
These two bonds have a term of 60 months, issued and completed on the same day (September 21, 2022) with a par value of VND 100 million/bond, maturing on September 21, 2027.
According to previous information, Masan has announced a resolution to change the plan to privately issue 2 lots of corporate bonds with a total value of VND 1,500 billion for professional securities investors.
The interest rate for the first 2 periods is fixed at 9.5%/year. The interest rate for the remaining interest periods is a floating interest rate equal to the sum of 3.975%/year and the reference interest rate (the average of deposit interest rates applied to personal savings deposits in VND). 12-month term announced by Vietinbank, Vietcombank, Agribank and BIDV on the relevant interest rate determination date.
Masan’s initial goal is to use the proceeds to pay the principal to maturity of the MSNPO2022_01 bond issued on September 26, 2019. After adjustment, this amount will be used to pay the principal of BondMSN012023 bonds issued on March 9, 2020 and matured on March 9, 2023. The expected time to use the capital is the first quarter of 2023.
Notably, this mobilization of Masan took place just a few days before the maturity of the previously issued bond batch. Specifically, a bond lot worth VND 1,500 billion, issued by Masan on September 26, 2019 with a 3-year term, expired on September 25, 2022.
In 2020, this group also issued VND 10,000 billion of domestic bonds through 4 rounds. All have 3-year maturities, maturing in 2023.
In January 2021, Masan Group continued to offer another 4,000 billion VND of bonds to the public.
Up to now, the outstanding bond outstanding of the parent company Masan Group is 19,500 billion dong. Of these, VND 14,000 billion is due in March-August 2023, ie within the next 1 year, and VND 4,000 billion is due in January 2024.
Masan’s subsidiaries also have outstanding bonds with a total value of tens of trillions of dong.
Specifically, Mineral Exploiting and Processing Co., LtdNui Phao has a circulation of VND 6,300 billion, WinCommerce in the circulation of VND 4,500 billion, Masan Hightech Materials with a value of VND 3,000 billion, Masan Consumer Holdings with a value of VND 2,100 billion…
In terms of business results, in the first 6 months of 2022, Masan achieved consolidated net revenue of VND 36,023 billion, down 12.5% compared to VND 41,196 billion in the same period last year. Profit after tax reached VND 3,110 billion, up 122.7% over the same period last year. Net profit reached 2,577 billion dong in the first half of 2022.
Masan’s 2022 plan is to achieve a total revenue of VND 90,000 – 100000 billion, an increase of 1.5% – 12.8% compared to the implementation of 2021. Profit after tax is expected to be VND 6,900 – 8,500 billion, down from 15 8% – 31.6% over the same period last year.
The Group also plans to issue convertible bonds to the international market and plans to issue shares to convert bonds and increase charter capital. Estimated time of issuance in 2022 and/or 2023. The bond’s par value is expected to be $100,000 and multiple of $1,000 or other denominations in line with market practice. The maximum number of bonds to be issued is 500 million USD.