HCMC – The central coastal province of Khanh Hoa has announced a plan to issue VND500 billion worth of municipal bonds via auction, which is scheduled for December 4.
The 10-year bond will have a face value of VND1 million, with repayment sourced from the provincial budget.
The objective of the bond issue is to ensure Khanh Hoa has sufficient funding for the province’s public investment projects that have been approved by the provincial People’s Council, and to address local budget deficits.
Khanh Hoa authorities said that the repayment of bond principal will be made in full on the date of maturity, while coupons will be paid every year.
The province has the option to redeem bonds before they fall due to reduce its debt obligations or conduct debt restructuring.
