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INTEREST-BEARING LOANS AND BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2023

INTEREST-BEARING LOANS AND BORROWINGS

Schedule of interest-bearing loans and borrowings

​

​	​	​	​	​	​	​	​	​
​	​	​	​	As of December 31,
​	​	Note	​	2022	​	2023	​	2023
​		​		VND million		VND million		USD
Short-term
Loans from banks		11.1		6,268,276	​	21,307,941		892,815,763
Current portion of long-term loans		11.2		8,311,277	​	7,143,376		299,311,824
Current portion of bonds		11.3		—	​	11,443,465		479,488,184
TOTAL	​	​		14,579,553	​	39,894,782		1,671,615,771
Long-term
Loans from banks		11.2		27,652,234	​	22,590,438		946,553,172
Bonds		11.3		13,972,726	​	7,551,628		316,417,833
Loans from others	​	​	​	—	​	28,083	​	1,176,695
TOTAL	​	​		41,624,960	​	30,170,149		1,264,147,700

Schedule of short-term loans from banks and interest rate

​

​	​	​	​	​	​	​	​	​
Bank	​	As of December 31, 2023			​	Maturity	​	Collateral
​		​		USD		​		​
​	​	​	​	(Convenience	​	​	​	​
​	​	VND million	​	translation)	​	​	​	​
Vietnam Prosperity Joint Stock Commercial		8,357,347		350,177,952		From January		Sharing collateral with a group of
Bank	​	​	​	​	​	2024 to	​	companies guaranteed the ultimate
​	​	​	​	​	​	June 2024	​	parent company
Vietnam Technological and Commercial		4,336,556		181,704,349		From January to		Sharing collateral with a group of
Joint Stock Bank	​	​	​	​	​	November 2024	​	companies guaranteed the ultimate
​	​	​	​	​	​	​	​	parent company
Saigon – Hanoi Commercial Joint Stock		1,999,554		83,782,536		From February		Sharing collateral with a group of
Bank	​	​	​	​	​	2024 to	​	companies guaranteed by certain shares
​	​	​	​	​	​	December 2024	​	of the ultimate parent company
Joint stock Commercial Bank for Investment		1,495,421		62,659,055		From March		Certain shares of an affiliate of the
and Development of Viet Nam – Ha Thanh	​	​	​	​	​	2024 to June	​	Group held by the ultimate parent
Branch	​	​	​	​	​	2024	​	company
Joint stock Commercial Bank for Investment		1,300,000		54,470,795		From April		Certain shares of an affiliate of the
and Development of Viet Nam – Quang	​	​	​	​	​	2024 to June	​	Group held by the ultimate parent
Trung Branch	​	​	​	​	​	2024	​	company
Westlake Flooring Company, LLC		824,671		34,554,219		May 2024		Vehicles under loan contract
Ho Chi Minh City Development Joint Stock		2,994,392		125,466,857		From January		Certain shares of an affiliate of the
Commercial Bank	​	​	​	​	​	2024 to	​	Group held by the ultimate parent
​	​	​	​	​	​	June 2024	​	company
TOTAL		21,307,941		892,815,763

​

​	​	​	​	​
Loans and borrowings		Currency		Interest rate applicable in 2023
Short-term Loans	​	VND	​	From 6.7% to 15%
UPAS Letter of Credit	​	VND	​	From 10.5% to 14.5%

Schedule of long-term loans from banks and interest rate

​

​	​	​	​	​	​	​	​	​
Lenders	​	As of December 31, 2023			​	Maturity date	​	Collateral
​		​		USD		​		​
​	​	​	​	(Convenience	​	​	​	​
​	​	VND million	​	translation)	​	​	​	​
Syndicated loan No.1		13,997,995		586,524,554		From March 2024 to September 2030		(i)
In which: current portion		2,176,904		91,213,609
Syndicated loan No.2		4,473,261		187,432,372		From May 2024 to November 2024		(i)
In which: current portion		4,473,261		187,432,372
Syndicated loan No.4		2,200,874		92,217,967		From June 2024 to December 2026		(i)
In which: current portion		358,215		15,009,428
Syndicated loan No.5		3,127,891		131,060,546		From November 2024 to November 2029		(i)
In which: current portion	​	129,791	​	5,438,322	​	​	​	​
Syndicated loan No.6		5,918,804		248,001,508		From November 2025 to November 2026		(i)
Loan from others		14,989		628,049		From January 2024 to October 2026		Unsercured
In which: current portion		5,205		218,093
TOTAL		29,733,814		1,245,864,996
In which:
Non-current portion		22,590,438		946,553,172
Current portion		7,143,376		299,311,824

​

​	​	​	​	​	​	​	​	​
Lenders		As of December 31, 2022				Maturity date		Collateral
​		​		USD		​		​
​	​	​	​	(Convenience	​	​	​	​
​	​	VND million	​	translation)	​	​	​	​
Syndicated loan No.1	​	15,287,959		640,574,834	​	From March 2023 to September 2030	​	(i)
In which: current portion	​	2,119,385		88,803,528	​		​
Syndicated loan No.2	​	5,563,099		233,097,251	​	From May 2023 to November 2024	​	(i)
In which: current portion	​	1,277,045		53,508,967	​		​
Syndicated loan No.3	​	4,714,072		197,522,501	​	April 2023	​	(i)
In which: current portion	​	4,714,072		197,522,501	​		​
Syndicated loan No.4	​	2,290,606		95,977,793	​	From December 2023 to December 2026	​	(i)
In which: current portion	​	176,775	​	7,406,981	​	​	​	​
Syndicated loan No.5	​	2,912,644	​	122,041,565	​	From November 2024 to November 2029	​	(i)
Syndicated loan No.6	​	5,137,283	​	215,255,300	​	From November 2025 to November 2026	​	(i)
Other loan from bank	​	57,848		2,423,868	​	From March 2023 to December 2024	​	(i)
In which: current portion	​	24,000		1,005,614	​		​
TOTAL	​	35,963,511		1,506,893,112	​		​
In which:	​	​		​	​		​
Non-current portion	​	27,652,234		1,158,645,521	​		​
Current portion	​	8,311,277		348,247,591	​		​

(i) As of December 31, 2023 and 2022, these long-term loans were secured by:

● Property, plant and equipment (Note 9), the Debt Service Reserve Account at the offshore account management bank, the Revenue Account at a commercial bank with outstanding balance and accumulated other related benefits arising from such account;

​

11.INTEREST-BEARING LOANS AND BORROWINGS (continued)

● Certain shares of an affiliate held by another affiliate, certain shares of another subsidiary held by the ultimate parent company;

● Payment guarantee from the ultimate parent company and a commercial bank. The payment guarantee from the commercial bank is secured by certain properties held by affiliates;

​

​	​	​	​	​
Loans and borrowings		Currency		Interest rate applicable in 2023
Secured loans	​	VND	​	Floating interest rate, determined by the bank every six months, 10.2% to 11.8% per annum
Secured loans without swap contract	​	USD	​	Floating interest rate, from 4.93% to 9.09% per annum
Secured loans with floating interest rate swapped for fixed interest rate (also fixed transaction rate) under swap contracts (Note 20A)	​	USD	​	Fixed interest rate under swap contract from 4.1% to 9.15% per annum

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