Vinpearl redeems over US$394m international bonds early
Vinpearl, a leading brand in Vietnam's tourism and resort industry, has recently made a significant financial move by repurchasing over VND10 trillion (US$394 million) worth of international bonds before maturity, within just one month.
This proactive approach highlights Vinpearl's strategic financial management and commitment to optimising its capital structure.
The redemption involved the complete repurchase of US$141 million (over VND3.5 trillion) of international bonds on September 23, 2024, specifically the VPLD2126001 series, which were issued in the Singapore market on September 21, 2021.
The actual purchase price per bond was US$206,320, amounting to nearly US$145.5 million (over VND3.7 trillion). Prior to this, on August 23, Vinpearl had already repurchased US$284 million (over VND7.1 trillion) of these bonds.
The VPLD2126001 series of international bonds, with a maturity date of September 21, 2026, had a face value of US$200,000 per bond, a total issuance value of US$425 million and an interest rate of 3.25% a year.
These bonds were well-received in the market and were instrumental in Vinpearl's financial operations.
Vinpearl's business operations have been on an upward trajectory, as evidenced by its financial performance in the first half of 2024.
The company reported a profit after tax of nearly VND2.6 trillion, marking a significant increase of 3.8 times compared to the same period the previous year. This robust financial performance reflects Vinpearl's successful business strategies and operational efficiency.
Furthermore, Vinpearl's strategic collaborations with prominent international hotel brands like Meliá Hotels International and Marriott International have expanded its market presence and enhanced its service offerings.
The partnerships have led to the management of several luxury hotels and resorts under renowned international brands, positioning Vinpearl as a key player in the global hospitality industry.
Vinpearl's recent actions to redeem a substantial amount of international bonds ahead of schedule demonstrate the company's financial strength, foresight, and commitment to optimising its financial position.
This move not only enhances Vinpearl's financial flexibility but also underscores its proactive approach to managing its debt obligations and capital structure.
