Thaco Group and affiliates bond issuances

In September 2026, Thaco Group (Truong Hai Group) completed a bond issuance totaling 2,000 billion VND. The bonds, which carry a 36-month term and an initial fixed interest rate of 11.75% per annum, were assigned an A+ credit rating by VIS Rating. Orient Commercial Joint Stock Bank (OCB) provided a payment guarantee for the issuance. Thaco intended to use the funds for a business cooperation contract with Thiso International Trading and Service JSC to develop a commercial service center and supermarket project.

Following this, Dai Quang Minh Real Estate Investment JSC raised 500 billion VND through a private bond issuance between late September and early October 2026. These bonds feature a three-year term and a fixed interest rate of 11% per annum. This issuance follows a previous 1,000 billion VND issuance in August 2026. The proceeds are intended to partially prepay loans owed to its parent company, THACO, and loans at the Bank for Investment and Development of Vietnam (BIDV).