BaF Vietnam Agriculture JSC's BOND - BAF122029 - Pinetree Securities
BaF Vietnam Agriculture JSC’s BOND – BAF122029
Bond February 29, 2024

BaF Vietnam Agriculture JSC’s BOND – BAF122029

BaF Vietnam Agriculture JSC’s BOND – BAF122029

Company Information

BaF Vietnam Agriculture Joint Stock Company builds and continuously improves a closed Feed-Farm-Food model to achieve comprehensive control over all aspects, from raw materials for animal feed, breeds, and high-tech livestock farms to meat production, processing, and distribution to consumers.

BaF owns the first factory in Vietnam to achieve both GLOBAL G.A.P CFM 3.0 and FSSC 22000 V5.1 certifications simultaneously—recognized globally as the highest standards in animal feed production management. BaF strategically partners with reputable global breed suppliers to select healthy, disease-free breeds that are specially adapted to the Vietnamese climate. Additionally, BaF operates a closed meat production system with modern processing technology.

4.1

Company development strategy:

FEED

Exclusive vegetarian bran formula, developed by a team of talented experts

Ingredients meet international quality standards, 100% plant origin

Autonomous production capacity to serve the 3F ecosystem with a modern factory system

FARM

Good quality breeds

Smart, modern, self-operating farm

Closed barn model, ensuring biosecurity, maximum animal health protection

FOOD

Closed meat slaughter system

Vegetarian pork, fresh meat quality, ensuring food hygiene and safety

3F standard ecosystem with closed model, quality control of the value chain from input sources to finished products

3

Financial Situation

Subject
(Bil VND)
2020202120222023
Revenue12,84510,4347,0855,255
Profit4632228719
Asset5,2465,4574,7296,574
Equity5661,4551,7431,907

Bond information

Issuance Scale VND 300.000.000.000
(300 Bil VND)
Issue Date 23/08/2022
Maturity Date 23/08/2025
Term 3 years
Coupon payment period Every 6 months
Coupon Rate10.5%/year
Put option Investors have the right to request the bond issuer to buy back up to 50% of the bonds held as of the 24th month (23/8/2024)
Call optionAt any time after 24 months from the issuing date, the bond issuer has the right to buy back 100% of the bond quantity

* Pinetree only offers liquidity support for the bonds distributed by Pinetree.

**Pinetree’s liquidity support service will be offered at an appropriate call price based on market conditions and the company’s policies throughout the maturity of the bonds.

Documentations

Bond Introduction

Financial statment 2021

Financial statment 2022

Financial statment 2023

Resolution of the Board of Directors

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