Phat Dat spends over VND 550 billion settling loans and bonds

Over a month, Phat Dat Real Estate Development Corporation (HOSE: PDR) spent VND 558.7 billion to pay off loans and buy back pre-mature bonds.

As in the announcement on 2nd December 2022, Phat Dat continues to buy back VND 188.7 billion of the Seventh Bond Issue in 2021 (PDRH2130007) before maturity at par value.

Since late October 2022, Phat Dat has settled a total of VND 558.7 billion in loans, including VND 338.7 billion of pre-mature bonds.

According to 3Q2022’s financial statement, it is estimated that Phat Dat’s total debt decreased from VND 5,265 billion to about VND 4,700 billion, especially the bond balance down to VND 2,500 billion. The Company Board said it had prepared a plan and roadmap to pay the loans on time and ensure bondholders’ benefits.

Recently, PDR stock has hit ceiling prices in many consecutive sessions with record trading volumes. Notably, 94 million shares were traded in the session on November 29, of which 20 million shares were bought by foreign investors.

The potential of PDR comes from its project development capacity with many ongoing projects. In 2023, the Company plans to launch 12,000 products in potential markets such as Binh Duong, Ba Ria-Vung Tau, Binh Dinh and Da Nang. These products are expected to generate over VND 30,000 billion in revenue.