Managing enterprise capital through the epidemic season, the proprietor of the Vuvuzela chain, Gogi Home is about to take a long-term mortgage of 700 billion VND
The Board of Administrators of the Golden Gate Buying and selling Service Joint Inventory Firm (Golden Gate) has simply issued a decision on the issuance of bonds.
Accordingly, Golden Gate will concern 7,000 bonds within the first part with a par worth of 100 million dong/bond, with a complete worth of 700 billion dong.
Bonds are anticipated to be issued within the interval from September 6 to September 16, with a time period of three years, rate of interest 11.5%/yr, curiosity fee three months/time. The bonds are secured by shares of Golden Gate, equal to 160% of the full principal of the excellent bonds.
The issuance goals to implement Golden Gate’s funding applications and tasks and enhance the dimensions of working capital.
Golden Gate’s monetary report on December 31, 2020 stated that Golden Gate is borrowing 451 billion VND, of which all are short-term loans whereas long-term loans are zero. Golden Gate’s short-term loans together with Vietcombank loans of 96 billion VND with an rate of interest of 4.7%, VIB loans of VND 243 billion, rates of interest of 4.6-4.7%, MB loans of VND 100 billion with rates of interest of 5-5.8%.
Thus, the rate of interest on the bond mortgage is greater than 2 instances greater than Golden Gate’s regular short-term mortgage rate of interest.
Golden Gate issued bonds within the context of difficult developments of the Covid-19 epidemic within the nation, eating places and meals providers needed to shut.
Golden Gate needed to handle by launching a house supply service, combining with Seize Meals, Now, Baemin to serve clients. This service is a type of supply of Prepared-to-eat merchandise with sizzling pot combos for 2-Four individuals, ready-made dishes in response to the flavors of manufacturers corresponding to GoGi Home, Cowboy Jack’s, iSushi, Daruma, Yutang… As well as, Golden Gate additionally lends clients a grill or sizzling pot at no cost.
Along with house supply service, Golden Gate additionally brings pre-processed, frozen and packaged merchandise of Sumo Yakiniku, Kichi Kichi, Ashima, GoGi Home, and so forth. into supermarkets corresponding to Massive C or Vinmart .
In 2020, Golden Gate’s income decreased for the primary time after many consecutive years of development, reaching VND 4,559 billion, down almost 5% in comparison with the earlier yr. Revenue after tax fell much more sharply to solely 65 billion dong, the bottom since 2013.
