DITP raises VND 2,269 billion in bonds; VNDirect acts as depository

Overview

DITP (Da Nang IT Park Development JSC), a company within the Trung Nam Group ecosystem, successfully issued VND 2,269 billion in corporate bonds on June 30, 2026. The 40-month bonds carry an initial fixed coupon of 10.7% per year, transitioning to a floating rate thereafter. VNDirect Securities (VND) acted as the depository organization for the issuance.

Key Facts

• Issuer: CTCP Phát triển Khu Công nghệ thông tin Đà Nẵng (DITP), a Trung Nam Group affiliate.
• Bond code: DIT32601, issued domestically on June 30, 2026, maturing October 30, 2029.
• Total issuance value: VND 2,269 billion (22,690 bonds at VND 100 million face value each).
• Initial fixed interest rate: 10.7% per year for the first interest period; subsequent periods: reference rate + 5.5% per year, floating.
• Interest payment: semi-annual, with interest paid at maturity or upon early redemption.
• Depository: Vietnam Securities Depository and Clearing Corporation; related organization: VNDirect Securities (HoSE: VND).
• DITP also has an outstanding bond (DTPCB2427001) of VND 500 billion, issued July 16, 2024, maturing January 16, 2027, secured by 100 million shares of Trung Nam Renewable Energy JSC.
• DITP’s charter capital is VND 777 billion; legal representative is Chairman Nguyen Ngoc Thao.

What Happened

According to a filing on the Hanoi Stock Exchange (HNX), DITP completed the issuance of bond DIT32601 on June 30, 2026, raising VND 2,269 billion. The bonds are non-convertible, non-warrant, and secured. The initial fixed coupon of 10.7% per year applies to the first interest period, after which the rate becomes floating (reference rate plus 5.5% per year). Interest is paid semi-annually, with a single payment at maturity or upon early redemption.

DITP is the developer of the Da Nang Concentrated IT Park (phase 1, 131 hectares) and also operates in real estate and high-tech electronics manufacturing. The company is part of the Trung Nam Group, a major Vietnamese conglomerate with interests in energy, construction, and infrastructure.

Market Context

VNDirect Securities (VND) closed at VND 16,500 on July 24, 2026, on the Ho Chi Minh Stock Exchange (HOSE). The bond issuance adds to VND’s fee income from depository and related services. The broader Vietnamese corporate bond market has seen increased activity as companies seek alternative funding amid tighter bank lending. DITP’s issuance at a 10.7% initial coupon reflects the elevated yield environment for non-bank issuers.

Strategic Significance

The successful bond raise provides DITP with long-term capital to fund its IT park development and other projects. For VNDirect, acting as depository reinforces its role in the corporate bond ecosystem, generating stable fee revenue. The secured nature of the bonds (backed by shares in Trung Nam Renewable Energy) may appeal to risk-averse investors. The floating rate mechanism after the first period protects the issuer if rates decline but exposes investors to rate risk.

What to Watch

• DITP’s progress on the Da Nang IT Park phase 2 and other projects, which may require additional funding.
• Interest rate movements in Vietnam, as the floating coupon will reset semi-annually based on the reference rate.
• VNDirect’s Q3 2026 earnings report for fee income from bond depository services.
• Any further bond issuances by Trung Nam Group affiliates, which could signal group-level leverage trends.
• The performance of Trung Nam Renewable Energy, whose shares serve as collateral for DITP’s outstanding bonds.