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Sunday, May 22, 2022

Vingroup to launch US$525 million international bond issue

The Saigon Times

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HCMC – Vingroup (VIC) has announced it will launch a US$525 million international bond issue this month.

The bond has a face value of US$1 million and a term of five years. The bond could be converted into VinFast shares.

This will be the first of Vingroup’s two bond issues this year.

The money raised from the bond sale will be used to fund the group’s payment of bond issuance fees and contribute to VinFast.

Vingroup’s board approved the plan to issue bonds on international markets last year. The group initially planned to issue US$1.5 billion worth of international bonds in the first quarter of this year.

However, in April, Vingroup’s board approved the adjustment of the bond issue time.

In the first quarter of 2022, Vingroup earned over VND18.2 trillion in consolidated net revenue and VND1.9 trillion in pre-tax profit.

Today, May 5, VIC inched up 0.38% at VND80,000 per share.

Meanwhile, the VN-Index of the HCMC bourse added 12 points, or 0.89%, at 1,360.68.

More than 531 million shares worth nearly VND15.4 trillion changed hands on the bourse, with 20.84 million shares valued at VND930.38 billion traded in block deals.

On the Hanoi bourse, the HNX-Index lost 2.22 points, or 0.62% versus the previous session at 358.75 points.

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