Tan Hoang Minh mobilizes VND 1,750 billion for a project in Phu Quoc

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Since July, Soleil – a member of Tan Hoang Minh Group has mobilized VND 1,750 billion for the project in Phu Quoc.

Tan Hoang Minh continues to raise capital for Phu Quoc resort. . (Artwork: Ngoc Anh).

Recently, Agribank Securities JSC has arranged for Soleil Hotel Services and Investment JSC, a member of Tan Hoang Minh Hotel Services Trading Co., Ltd. (Tan Hoang Minh Group) to issue VND500 billion of bonds on November 1.

This is a non-convertible bond, without warrants, with collateral. This bond lot has a term of 36 months, a fixed interest rate of 11.5% per year and is redeemed by two domestic institutions, including a credit institution.

Security assets are land use rights and assets attached to land plot No. 1784, map sheet No. 57 at Hoang Hai Tourist Area project (scale of more than 12 hectares).

All proceeds from the issuance will be used by the company to cooperate with Hoang Hai Phu Quoc Housing Development Investment Joint Stock Company to develop lot A3 of Hoang Hai Complex Tourist Area project in zone 5, Complex Bai Truong, Duong To commune, Phu Quoc district, Kien Giang province.

This is the third time since the announcement of the launch of the “sleeping city” super complex in Duong To town, Phu Quoc in early July, Tan Hoang Minh Group has guaranteed its member companies to raise capital through through bonds.

Previously, in three days from July 6-9, An Binh Securities Joint Stock Company arranged for Soleil to issue 800 billion VND of bonds with term of 24 months and interest rate of 11.75% per year.

On August 20, Agribank Securities Joint Stock Company arranged for this company to issue 450 billion dong of bonds with a term of 24 months, with a fixed interest rate of 11.5%.

The issuance is to serve capital for Soleil to cooperate with Hoang Hai Phu Quoc Housing Development Investment Joint Stock Company to develop land plots in the Hoang Hai Complex Tourist Area.

Thus, up to now, Soleil has raised VND 1,750 billion for this project.

Information published by Tan Hoang Minh Group recently said that the enterprise is developing “Sleepless tourism complex” in Bai Truong, Phu Quoc with a total investment of more than VND23,000 billion (equivalent to more than US$1 billion).

The project has a scale of 34 hectares, including a 5-star hotel system, 129 shophouses, 76 villas and 15 condotel hotel apartment buildings (7,000 to 8,000 units).

Source: vietnambiz.vn – Translated by fintel.vn