Hodeco plans to issue nearly 500 billion VND bonds to repay bank debts

Bà Rịa – Vũng Tàu Development Corporation (Hodeco) has approved a resolution to issue nearly 500 billion VND in convertible bonds (code HDC425001) with a face value of 100,000 VND per bond. This issuance includes 4,999,999 bonds, offered to existing shareholders without collateral. Bonds will convert into common shares in two phases: 40% within one year and the remainder on maturity date. The main aim of this issuance is to restructure bank debts. Additionally, Hodeco plans to transfer 37.37% of shares in Ocean Vung Tau Company and will continue to transfer another 9.9% of shares to other partners. Ocean Vung Tau is the investor of a tourism project in Vung Tau city with a total investment of 4.3 trillion VND.