Vietnamese battery electric vehicle (BEV) manufacturer, VinFast Auto, announced it successfully issued VNĐ 2.5 trillion (US$ 96 million) in bonds through its VIF12502 bond series, as the automaker continues to strengthen its presence in global markets.
The Hanoi Stock Exchange (HNX) confirmed that the company recently issued a total of 25,000 bonds, each with a face value of VNĐ 100 million, strengthening the company’s balance sheet as it prioritizes expanding in markets in Asia in the short term. The non-convertible bonds mature on 30th June 2028 and were issued by a payment guarantee backed by parent company VinGroup’s assets.
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In May of this year, VinFast repurchased just over VNĐ 2 trillion worth of three-year bonds from previous issuances, which carried an annual interest rate of 9.3% and were due to mature at the end of that month.
VinFast reported a net loss of VNĐ 31.9 trillion in 2024, which widened significantly from the VNĐ 18.3 trillion loss it reported in 2023, as the company brought new products to market, built a new plant in Vietnam, and continued to expand its presence in Asia. The automaker’s cumulative losses stood at almost VNĐ 130 trillion at the end of 2024, while total liabilities exceeded VNĐ 202 trillion, according to local reports.
