Mobile World passed a 120 million USD credit line with HSBC, supplementing capital for Bach Hoa Xanh
admin 17-11-2020, 23:37


Mobile World passed a 120 million USD credit line with HSBC, supplementing capital for Bach Hoa Xanh

Information from Mobile World Investment Joint Stock Company, the company decided to borrow capital from HSBC with a maximum credit limit of 120 million USD (about 2,800 billion VND) for a period of two years, in order to implement the purposes of joint business investments of the company, including additional equity capital for Bach Hoa Xanh.

Mobile World Investment JSC (Ticker: MWG) has just issued a resolution approving a loan from HSBC with a maximum credit limit of 120 million USD (about 2,800 billion VND) within two years. . In addition, the company has the option to extend the loan term by 364 days.

The purpose of borrowing is to supplement working capital, capital costs, to implement the general business investment purposes of the company, including to supplement equity for Mobile World JSC and Bach Hoa Xanh Trading Joint Stock Company . The loan may be guaranteed by Mobile World depending on agreement between the parties.

By the end of the third quarter, MWG has a short and long-term financial debt of more than 13,000 billion dong, down more than 1,150 billion dong since the beginning of the period. In which, loans from HSBC is about 2,100 billion dong, accounting for 16% of the company’s total financial debt.

In the latest update on the company’s activities, during the investor meeting held on November 13, the company said that by the end of September there were 962 stores belonging to Mobile World chain, 1,124 Dien May Xanh and 1,623 Bach Hoa Xanh stores.

The total revenue in October of the above chains reached about 8,700 billion VND, an increase of nearly 10% compared to the same period in 2019 and an increase of 4% compared to September thanks to the active contribution of Bach Hoa Xanh chain.

Bach Hoa Xanh chain recorded a record high October revenue when surpassing VND 2,000 billion, far ahead of September immediately before as well as the same period last year.

Total revenue of Mobile World chain and Green Electronics in October reached about VND 6,700 billion, down 3% year-on-year due to two reasons that the demand for consumer electronic products is still weak and unable to recover. back as before the COVID-19 epidemic and severe storms and floods disrupted business activities in the Central region.

Source: vietnambiz.vn – Translated by fintel.vn

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