HCM City-listed NBB Investment Company (NBB) has announced it would issue VND400 billion (US$21.6 million) worth of bonds this month to mobilise capital for three real estate projects in the southern city.
The bonds, with a face value of VND1 billion ($54,054), will have maturity terms of three years (NBB-BOND-2009-3) and four years (NBB-BOND-2009-4), on a volume of 250 and 150, respectively.
For the first six months after issue, the bonds will have a fixed interest rate of 14.5 percent. Rates for the following months will be based on Viet Nam International Bank (Sai Gon Branch)‘s 12-month borrowing interest rate, with a fluctuation of 4 percent, that will be adjusted every six months.
Capital mobilised from the issue will be used to fund Diamond Riverside (NBB Garden I) High-rise Apartment Area, NBB II High-rise Apartment Area and a 30-ha complex on Tran Dai Nghia Street in HCM City.
The company also announced that December 30 would be the deadline for shareholders to register for the 2009 dividend payout, which will be paid in cash at a rate of 14 percent, on January 20.
NBB, established in 2005, has a charter capital of VND154 billion ($8.3 million). Its business interests include real estate development, infrastructure construction, electricity generation, mining and ecological travel.
The firm posted a revenue of VND231.9 billion ($12.5 million) in the first nine months of this year, a year-on-year increase of 63.21 percent. It earned a net profit of VND66.06 billion ($3.6 million) during the period, a year-on-year increase of 38 percent, which exceeded its profit target by nearly 1.64 percent.
Share prices closed unchanged yesterday at VND68,500 ($3.7).