Hyosung Vina raises $7.6 mln in unsecured bond sale
Hyosung Vina Chemicals, the Vietnam arm of South Korean chaebol Hyosung, has completed a VND200 billion ($7.59 million) domestic bond issuance, according to disclosures on the Hanoi Stock Exchange.
The bond, coded HOS12601, has a tenor of 12 months and carries a fixed coupon rate of 9% per year. The issuance comprises 2,000 bonds with a face value of VND100 million ($3,794) each.
Notably, the notes are unsecured and come without conversion rights or attached warrants. Shinhan Securities Vietnam is acting as the custodian.
PP plant and underground LPG storage facility run by Hyosung Vina in HCMC. Photo courtesy of Znews.
This marks Hyosung Vina’s second bond issuance. In June 2025, the company raised VND250 billion ($9.49 million) through a similar 12-month bond with a 7% fixed coupon.
The earlier bond was fully redeemed ahead of maturity in December 2025, bringing the company’s outstanding bond balance to zero before the end of its financial year.
According to its financial disclosure, Hyosung Vina posted a net loss of nearly VND4.21 trillion ($159.78 million) in 2025, compared with the VND4.26 trillion loss ($161.8 million) recorded a year earlier. As a result, accumulated losses have widened to nearly VND21.57 trillion ($818.93 million).
Since entry into Vietnam, the company has recorded profit only once, in 2018, at KRW207 million ($144,850) and has remained in the red since.
Established in 2018 and based in the Cai Mep Industrial Zone in the former Ba Ria-Vung Tau province (now part of Ho Chi Minh City), Hyosung Vina Chemicals produces polypropylene, ethylene and related petrochemical products, along with liquefied petroleum gas trading and other ancillary businesses.
The company, led by CEO Kim Jong Ki, has charter capital of over VND30.88 trillion ($1.17 billion), with Hyosung Chemical Corporation holding 51% and Hyosung Vina 1st Co., Ltd owning the remaining 49%.
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