Sovico Group strengthens financial stability with timely bond payments in 2024
Sovico Group, a leading financial investment firm in Vietnam, has maintained a strong financial performance in 2024. The company recently fulfilled a VNĐ52 billion (US$2 million) interest payment on its bond issue SVACH2124006, demonstrating its commitment to meeting obligations on time. This follows a profitable first half of the year, with net earnings rising by 14 per cent compared to 2023. The bond issue SVACH2124006 was launched between September 21, 2021, and November 5, 2021, with a total face value of VNĐ1 trillion. It carries an annual coupon rate of 10.5 per cent, and the latest interest payment of VNĐ52 billion was completed as scheduled. Proceeds from this issuance were allocated to investment programmes, working capital expansion, and restructuring the company's funding profile.
In 2024 alone, Sovico Group has successfully met interest-payment obligations across 116 bond coupon periods. Individual payments this year ranged from VNĐ2.5 billion to nearly VNĐ105.9 billion per tranche, with coupon rates varying between 10 per cent and 10.5 per cent. Earlier this month, the company also paid over VNĐ52 billion in interest for tranche SVACH2124005. Under the leadership of Chairwoman Nguyễn Thị Phương Thảo, Sovico Group reported a net profit of nearly VNĐ1.8 trillion for the first half of 2024. This marks a 14 per cent increase compared to the same period last year. Founded in 2001, the company specialises in financial investments and continues to strengthen its market position through disciplined debt management.
Sovico Group's consistent interest payments and profit growth highlight its financial stability in 2024. The company's ability to meet bond obligations while expanding its investment activities reflects its strategic approach to capital management. No further details have been disclosed regarding the total number of bond tranches issued this year or the specific sectors funded by the proceeds.
