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On May 11, 2026, Vinhomes (VHM) issued two private bond tranches on the same day, raising a total of VND 3,000 billion. The company disclosed the placement results to the Hanoi Stock Exchange (HNX).
The VHM12602 issue comprises 20,000 bonds with a par value of VND 100 million per bond, totaling VND 2,000 billion. The VHM12604 issue comprises 10,000 bonds with a par value of VND 100 million per bond, totaling VND 1,000 billion.
Both tranches have a 36-month term, with an expected maturity date of May 11, 2029. The blended coupon rate is 12.5%.
Vinhomes’ approved resolution covers a private placement of corporate bonds that are non-convertible and have no warrants. The bonds are secured by assets and have a total value of VND 5,000 billion.
Each bond has a par value of VND 100 million and a 36-month tenor. The coupon is a blended fixed-and-floating structure, and the bonds carry direct debt service obligations. The collateral consists of assets legally owned by Vinhomes and/or third parties. The stated purpose of the issuance is to restructure the issuer’s debt.
According to HNX data, from April 13–15, 2026, Vinhomes issued 60,000 bonds under code VHM12601, each with a par value of VND 100 million, raising VND 6,000 billion. This tranche has a 30-month tenor, with an expected maturity on October 13, 2028.
Separately, on April 28, Vinhomes paid more than VND 61 billion in interest and VND 2,000 billion in principal for bond VHMB2426004. This bond was issued on April 25, 2024, with a 24-month term and a coupon rate of 12% per year.
In Q1 2026, Vinhomes reported consolidated net revenue of VND 65,114 billion, up fourfold year-on-year. Revenue from real estate transfers was the main driver, reaching VND 54,782 billion, up about 7.6 times.
For 2026, VHM targets revenue of VND 285,000 billion and net profit of VND 60,000 billion. Based on the first three months’ results, the company has achieved about 23% of the revenue plan and 43% of the annual profit target.
By end-Q1 2026, Vinhomes’ total assets were VND 869,975 billion, up 10% from the start of the year. Real estate inventories under construction exceeded VND 117,678 billion, up more than VND 10,700 billion since the start of the year. Cash and cash equivalents were around VND 35,838 billion, down 27% from the start of the year.
Total liabilities stood at VND 597,132 billion, up 10.9% from the start of the year, including more than VND 115,257 billion in customer advances for real estate and construction contracts.
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