The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) announced the 10th auction of the debt of Viet Nga Steel Co. Ltd, after 9 times of reducing the loan's starting price, but it has not yet been liquidated.
According to BIDV's announcement, the total outstanding balance of the loan as of July 2, 2021 is VND 475 billion, of which the principal balance is VND 266.9 billion, the balance of interest and late payment penalty fee is VND 208 billion.
The starting price for the 10th offering of this debt is nearly 269 billion VND, down more than 200 billion VND compared to the initial offering and only about 2 billion VND higher than the original outstanding balance.
BIDV said that the debt of Viet Nga Steel is being secured by many assets, which are real estate and factories owned by the company and related individuals.
The loan is secured by Viet Nga Steel with a series of land and factory use rights signed with the Bank from 2014, 2015. In which, the most significant is the right to use 4,466 m2 of land (land for production and business establishments). ), house ownership (construction area 3,175 m2) and other land-attached assets at C12/20A, Hamlet 3, Tan Kien commune, Binh Chanh district, HCM city; factory with a construction area of 3,744.7 m2 at C12/15E, Hamlet 3, National Highway 1A, Tan Kien commune on an area of 4,933.9 m2 of land for production and business establishments.
Viet Nga Steel also uses the right to use 1,123 m2 of land for production and business establishments and factories with a construction area of 1,883.4 m2 at C12/15A, Hamlet 3, National Highway 1A, Tan Kien commune; the right to use land plot No. 4377, map sheet No. 3 in Tan Kien commune with an area of 4,170.1 m2 ( used as a warehouse for agricultural products and food) to secure the loan.
In addition, the loan is also secured by the land plot, house on land and other assets at 202/5 Hoang Van Thu, Ward 2, Tan Binh District, Ho Chi Minh City owned by Mr. Dinh Hong Minh ; The right to sublease the land use right at Lot B081 - 082, Street No. 1, Duc Hoa 1 Industrial Park, Duc Hoa District, Long An Province and the factory on this subleased land.
Viet Nga Steel Co., Ltd was established and officially put into production and business operation since July 2006, mainly focus on iron and steel trading, especially in the southern region.
Viet Nga Steel's steel imported from many companies around the world such as Tetssho Kayaba Corporation, Bluescope Steel Limited, ArcelorMittal Singapore Private Limited, New Zealand Steel Limited...
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