SSI comes good on bonds

March 29, 2011 | 14:42

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Saigon Securities Inc. (SSI) yesterday completed the repayment of its 2010’s convertible bonds.

illustration photo

According to an announcement, all principle and coupons of SSICB2010 – the convertible bonds issued on March 26, 2010 – have been repaid to its bondholders. The total money was VND2.08 trillion ($100.4 million), including VND2 trillion ($96.6 million) of principle and VND80 billion ($3.8 million) of coupons.

The payment came after no SSICB2010 bondholder registered to convert their bonds into shares by the deadline March 26, as the shares price had actually fallen far down against that applied for the bond conversion.

Conversion price for the bond was set at VND35,639 ($1.7) – the company’s share price at the issue day of March 26, 2010. On March 25, 2011 session, SSI closed at VND23,600 ($1.1).

Previously, SSI 2010’s financial statements showed just VND1.3 trillion ($61.9 million) in cash and other liquid assets of the company.

By Hai Linh

vir.com.vn

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