Steel major Pomina to sell two mills for $272 mln to pay debts

Steel major Pomina to sell two mills for $272 mln to pay debts

Vietnamese steel firm Pomina plans to sell its Pomina 1 and Pomina 3 plants to a domestic investor for VND6.7 trillion ($271.7 million).

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Steel producer Pomina battles mammoth debts

Steel producer Pomina battles mammoth debts

Vietnamese steel firm Pomina has found itself in a crisis with VND2.2 trillion ($90.67 million) and VND922 billion ($38 million) in overdue bank and supplier debt respectively, and many of its owners have had to sell millions of shares to clear debts with suppliers.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Bond issuers can extend payment terms by 2 years

Bond issuers can extend payment terms by 2 years

A new decree from the Vietnamese government on corporate bond private placements allows issuers to extend their bond maturities by up to two years and pay principal and interest with assets other than cash.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

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