IDI's Announcement Ceremony of First-ever Aquaculture Green Bond in Asia - Pacific

IDI hosted the announcement ceremony of its successful issuance of the first-ever aquaculture green corporate bonds in Asia - Pacific at Sheraton Saigon Grand Opera Hotel, Ho Chi Minh City on November 26, 2024.

The overview of IDI's Announcement Ceremony of the successful issuance of aquaculture green corporate bonds

Mr. Le Tuan Anh, CEO of Sao Mai Group: IDI's successful issuance of the first-ever aquaculture green corporate bond in Asia paves the way to go further with the Win-Win lugguage, not only for GuarantCo and IDI but also for many other secondary investors.

This event was solemnly hosted by I.D.I International Development and Investment Corporation (IDI), a member of Sao Mai Group, in coordination with GuarantCo Ltd, attended by Mr. Brent Stewart, Deputy Consul General of Australia, Mr. Ben Gruenberg - First Secretary of the Consulate of the United Kingdom, Mr. Nishant Kumar, CEO of GuarantCo Asia - Pacific and domestic and international financial institutions.

Bond Batch, IDIH2432001, issued in the domestic market, consisted of 1,000 bonds with a face value of VND1 billion each, equivalent to bonds proceeds of VND1,000 billion. The bonds have a maturity term of eight years and a fixed coupon rate of 5.58% per annum, a record low coupon, only after that in the banking sector.

This is the first green bond transaction in the aquaculture sector in Vietnam to date. In the aquaculture sector, this is also IDI's first green bond in Asia - Pacific. Guaranteed by GuarantCo Ltd (a limited liability company operated under Mauritius Law), IDI completed the issuance on October 31, 2024. Thus, the maturity date is October 31, 2032.

Mr. Brent Stewart, Deputy Consul General of Australia: "IDI green bonds pave the way for greening Vietnam's aquaculture industry"

GuarantCo has become a strategic partner of IDI and that has added wings and extended IDI's achievements to domestic and foreign investors.

Mr. Le Tuan Anh, CEO of Sao Mai Group, (seated, right) and GiarantCo representative signed a memorandum of understanding at the announcement ceremony

The depository is the Vietnam Securities Depository and Clearing Corporation (VSDC). The related party is Vietcombank Securities Company (VCBS).

Mr. Le Van Canh, General Director of IDI: "The first aquaculture green bond in Asia - Pacific is an important milestone marking 16 years of IDI development."

IDI's successful issuance of the first-ever aquaculture green bonds in Asia - Pacific is a pioneering step and a right integration movement. It matches the "greening" development trend in the world. IDI has affirmed the absolute value of the billion-dollar aquatic species of the Mekong Delta region, pangasius, that needs to be preserved and promoted for better export-driven commerciality.

IDI enjoys a low anti-dumping tax duty following the period of final review (POR19) conducted and announced by the US Department of Commerce (DOC), paving the way for IDI aquatic products to enter the United States

The corporation's aquatic products have been exported to more than 50 countries and territories around the world. For many consecutive years, IDI has always been a Top 3 aquatic processor and exporter in Vietnam.

Delegates receive thank-you flowers from Sao Mai Group and IDI Corporation

The bond proceeds will be used to accelerate the completion of the American aquatic factory with a daily processing capacity of 120 tons and an expected annual output of 20,000 tons of frozen fish fillets. After completion, this facility will help boost IDI's total daily processing capacity to nearly 600 tons.

This is IDI's third aquatic processing factory powered by advanced technologies imported from Europe. The output meets the strictest technical barriers and food safety criteria of the US and European markets.

In addition, the modern project will ensure no impact on the environment. IDI will also apply solar power solutions to production to ensure clean and safe "farm - factory - fork" criteria for all global customers".

At the same time, IDI is building a high-quality seed production center with the ambition to carry out a revolution in pangasius seeds. The above two projects cost nearly VND1,000 billion in total.

IDI is a key member of Sao Mai Group. Hence, the successful issuance of green bonds is an important step for the group and GuarantCo to think further and more practically about green bonds in other fields that Sao Mai Group is involved in.

IDI's contractual pangasius farming area

Sao Mai Group, after 25 years of operation, has very profound business strategies in all fields of operation from real estate, aquaculture & exported seafood processing, aquatic feed production, eco-tourism, construction design and labor export to renewable energy. In each field, the group has taken solid steps to continuously create new values for the community and contributed to protecting the natural landscape and environment in localities.

LAMORI Resort & Spa - a mysterious green valley on the epic land of Thanh Hoa

In particular, eco-tourism and clean energy are the main spearheads of the group, matching global development trends highly appreciated by the governments of countries, environmental organizations and green financial institutions and bringing very convincing results to Sao Mai Group.

By Thao Uyen, Vietnam Business Forum