GELEX bought back VND 204.9 billion of pre-maturity bonds at the request of bondholders
GELEX Group Joint Stock Company planed to buy back VND 204.9 billion of pre-maturity bonds with ticker symbol BONDGEX/2020.01 and BONDGEX/2020.02 of a batch of VND 400 billion bonds issued in July 2020.
According to the terms and conditions in the bond issuance announcement, at the round of 24 months from the issuance date, bondholders can resell up to 100% of the pre-maturity holding bond amount for GELEX, and GELEX will execute the redemption on the Early Redemption Date upon receipt of a written request for redemption of the Bond Holders in accordance with the regulations.
Complying with the terms and conditions in the Bond documents and willing to meet the demand for early resale of the Bond Holders, GELEX decided to buy back VND 204.9 billion of the bond’s par value, scheduled on 22nd & 23rd July 2022. The redemption price of each Bond was equal to the par value of the Bond plus any unpaid incurred interest. The redeemed bonds would be canceled immediately and might not be reissued or resold.
The source of redemption of the Bonds came from GELEX’s legitimate business and investment activities. SSI Securities Corporation was the unit who participated in supporting the repurchase of the above-mentioned pre-maturity bonds.