Pawn shop chain to issue $17-mln worth of bonds

Mon, Aug 09, 2021, 08:05:00

Pawnshop chain F88 is set to issue bonds worth VND400 billion ($17.4 million) with a coupon rate of 11.5-12 percent to fund the opening of new branches.

A pawn shop of F88. Photo courtesy of F88.

Pawnshop chain F88 is set to issue bonds worth VND400 billion ($17.4 million) with a coupon rate of 11.5-12 percent to fund the opening of new branches.

It has 400 branches in 54 localities and plans to increase the number to 500 by the end of this year.

This year it has already raised VND600 billion at interest rates of 9-12.5 percent.

Last year, it issued bonds three times to raise VND400 billion.

The company’s post-tax profit rose from VND2.7 billion in 2018 to VND44.8 billion last year.

It eyes an 18-fold increase this year to nearly VND816 billion.