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Vinhomes Joint Stock Company (ticker: VHM) has approved a private placement of non-convertible corporate bonds without warrants, backed by assets, with a total value of VND 5,000 billion. Each bond has a par value of VND 100 million, a 36-month tenor, and a coupon rate that combines fixed and floating components, creating a direct debt obligation for the issuer. The collateral consists of assets legally owned by Vinhomes and/or a third party. The issuance is intended to restructure the issuer’s debt.
Under the Hanoi Stock Exchange (HNX) disclosure, the company’s bond structure is non-convertible and does not include warrants. The bonds are asset-backed, with the collateral provided by legally owned assets of Vinhomes and/or a third party. The total issuance value is VND 5,000 billion, with each bond valued at VND 100 million and a 36-month maturity.
On April 28, Vinhomes paid more than VND 61 billion in interest and VND 2,000 billion in principal for bond code VHMB2426004. This bond was issued on April 25, 2024, has a 24-month tenor, and an issue rate of 12% per year.
Separately, during April 13-15, 2026, Vinhomes issued 60,000 bonds under code VHM12601. Each bond has a par value of VND 100 million, and the total funds raised were VND 6,000 billion. The tranche has a 30-month term and is expected to mature on October 13, 2028.
In Q1 2026, Vinhomes reported consolidated net revenue of VND 65,114 billion, up fourfold compared with the same period in 2025. Revenue from real estate disposals was the main driver, reaching VND 54,782 billion, up about 7.6 times.
Due to cost reductions, after-tax profit increased to VND 25,625 billion, up tenfold versus Q1 2025.
For 2026, VHM targets revenue of VND 285,000 billion and after-tax profit of VND 60,000 billion. Based on results achieved in the first three months of the year, the company has completed approximately 23% of the revenue plan and 43% of the annual profit target.
As of the end of Q1 2026, Vinhomes’ total assets were VND 869,975 billion, up 10% from the start of the year. Real estate inventory under construction was more than VND 117,678 billion, up by over VND 10,700 billion from year-start. Cash and cash equivalents were around VND 35,838 billion, down 27% from the beginning of the year.
Total liabilities were VND 597,132 billion, up 10.9% from the start of the year. Of this, more than VND 115,257 billion relates to customer advances for real estate purchases and construction contracts.
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