VinGroup completes international bond sale
29-06-2012
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The international bond sale is considered the second largest convertible bond issuance in Asia so far. It is part of Vingroup’s second convertible bond issue in April 2012 which raised US$185 million, bringing the total amount to US$300 million.
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Summary of Convertible Bonds Terms Launch size: US$115 million Maturity Date: 3 April 2017 Investor Put Date: 3 April 2014 Issue Price: 100% plus accrued interest Coupon: 5.0% per annum Yield: 7.0% per annum Current conversion price: VND88,000 |
Vingroup's bonds have a five year tenor (from original issue date of April 3, 2012), providing the Group with long term financing at attractive terms and diversifies its sources of funding. The bonds are convertible into new ordinary Vingroup shares at a conversion price of VND88,000.
The US dollar-denominated bonds bear a coupon rate of 5% per annum, payable semi-annually in arrears.
The convertible bonds will be listed on the Ho Chi Minh City Stock Exchange, where Vingroup’s stock is currently traded, before going on the Singapore Exchange.
