VPBank’s 29 storey office tower in Dong Da District, Hanoi. Photo acquired by VnExpress.
Private bank VPBank has issued $300 million worth of 3-year international bonds to Asian and European investors.
This will be the first of many rounds, the bank says. The bonds have a nominal interest rate of 6.25 percent, are non-convertible, unsecured and listed on the Singapore Stock Exchange (SGX).
These bonds have been sold , according to VPBank.
The bonds were issued to Asian and European investors, who accounted, for 52 percent and 48 percent the total issue value respectively, to diversify sources to fund medium and long-term loans.
According to a VPBank representative, this was the biggest first issue of bonds a private Vietnamese enterprise has carried out on the international market.
VPBank plans to issue a total of $1 billion worth of international bonds between 2019 and 2020 in multiple rounds, but has not said when the next rounds will take place.