Announcement Ceremony of IDI's successful issuance of the first seafood green bond in Asia-Pacific
WVR - On November 26, 2024, at Sheraton Saigon Grand Opera Hotel - Ho Chi Minh City, the "Announcement Ceremony of IDI's successful issuance of the first seafood green bond in Asia-Pacific" occurred.
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| Overview of the Announcement Ceremony of IDI's successful issuance of seafood green bonds. |
This event was solemnly organised by the Multinational Investment & Development Joint Stock Company (IDI - a member of Sao Mai Group) in coordination with GuarantCo Ltd, with the participation of Mr. Brent Stewart, Deputy Consul General of Australia, Mr. Ben Gruenberg - First Secretary - Consulate of the United Kingdom, Mr. Nishant Kumar, CEO of GuarantCo Asia - Pacific region and domestic and international financial institutions.
The IDIH2432001 bond lot was issued in the domestic market with a volume of 1,000 bonds, face value of 1 billion VND/bond, issuance value of 1,000 billion VND, term of 8 years, fixed interest rate of 5.58%/year, a record low interest rate, only after the banking sector.
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| Mr. Le Tuan Anh - CEO of Sao Mai Group: "IDI's successful issuance of the first seafood green bond in Asia paves the way to go further with Win-Win luggage not only for GuarantCo, IDI but also for many other secondary investors. |
This is the first batch of green bonds for seafood in Vietnam to date. IDI's green bond is also the first in the Asia-Pacific region in seafood. Guaranteed for payment by GuarantCo Ltd (a limited liability company operating under Mauritius law), IDI was issued and completed on October 31, 2024. The maturity date is October 31, 2032.
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| Mr. Brent Stewat, Deputy Consul General of Australia: "IDI green bonds pave the way for greening Vietnam's seafood industry". |
GuarantCo has become IDI's strategic partner, giving wings and extending IDI's achievements to domestic and foreign investors.
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| Mr. Le Tuan Anh - CEO of Sao Mai Group (right), and GiarantCo leaders signed the Memorandum of Understanding at the Announcement Ceremony. |
The depository is the Vietnam Securities Depository and Clearing Corporation. The related unit is the Vietnam Joint Stock Commercial Bank for Foreign Trade Securities Company Limited (VCBS).
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| Mr. Le Van Canh - General Director of IDI Company: "The first green bond for seafood in Asia-Pacific - this is an important milestone marking 16 years of establishment and development of IDI". |
IDI's successful issuance of the first green bond for seafood in Asia-Pacific is a pioneering step, integrating at the right time, in line with the context of the world's development trend of "Greening". IDI has affirmed the absolute value of the billion-dollar seafood species of the Mekong Delta region that needs to be preserved and promote economic efficiency by exporting pangasius to Vietnam.
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| IDI enjoys a low anti-dumping tax rate (POR19) the US Department of Commerce (DOC) has announced the final results, paving the way for IDI seafood to enter the United States. |
The company's seafood products have been exported to over 50 countries and territories. IDI has been present in the TOP 3 of Vietnam's most considerable seafood processing and exporting enterprises for years.
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| Delegates received flowers of thanks from Sao Mai Group and IDI Company. |
IDI used the proceeds from the issuance of green bonds to accelerate the completion of the US seafood factory, with a capacity of 120 tons/day and an expected output of 20,000 tons/year of frozen fish fillets. After completion, this factory will increase IDI's total capacity to nearly 600 tons of raw materials/day.
This is IDI's 3rd seafood processing factory with advanced production technology, transferred from Europe. The products meet the US and European markets' strictest technical barriers and food safety criteria.
In addition, the modern project will ensure no impact or impact on the environment. IDI will also apply solar power solutions to the production process, ensuring the criteria of clean - safe from "farming area - to the factory and on the dining table of all global customers".
In addition, IDI is also simultaneously implementing the construction of a high-quality seed production centre with the ambition to carry out a revolution in pangasius seeds. The above two projects have a total investment of nearly 1,000 billion VND.
IDI is a crucial member company of the Sao Mai Group, so successfully issuing green bonds is essential for this group and GuarantCo to think further and more practically about green bonds in other fields that Sao Mai owns.
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| Pangasius farming area, according to IDI's joint model. |
After 25 years of establishment, the Group has had profound operational strategies from real estate, aquaculture & processing of exported aquatic products, aquatic feed processing, eco-tourism, construction design, and labour export to renewable energy. In each field, the Group has taken solid steps to continuously create new values for the community, contributing to protecting the natural landscape environment in localities.
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| LAMORI Resort & Spa - a mysterious green valley on the epic land of Lam Kinh. |
Eco-tourism and clean energy are the main spearheads of the Group, and they are in line with the world's development trend. They are highly appreciated by governments, environmental protection organisations, and green financial organisations, bringing compelling results to Sao Mai.
