Nam An Investment and Trading JSC has announced the successful issuance of VND4.7 trillion ($199.26 million) in bonds on March 10, 2023.
It is the second largest batch of bonds successfully issued in one year. The only previous tranche issued worth over VND4 trillion ($169.58 million) was recorded by Novaland (NVL) with a value of over VND5.54 trillion ($234.99 million) in May 2022.
Specifically, Nam An issued 47,000 bonds with a par value of VND100 million ($4.24 million) and a term of 18 months, due on March 10, 2024.
According to the Hanoi Stock Exchange (HNX), this round of bonds had an interest rate of 13% per year, combining fixed and floating interest rates.
Nam An, located in the Vinhomes Riverside ecological urban area, Hanoi's Long Bien district, was established in 2016 and focuses on the real estate market. The company's legal representative is Hoang Quoc Thuy.
Thuy was one of the founders of Technocom along with Vingroup chairman Pham Nhat Vuong. After joining Technocom, he was director of the Mivina noodle factory.
He was also general director of Quang Thai Development and Commercial Investment JSC, which used to be a major shareholder in Vingroup, Vietnam's largest private corporation.