Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade XRPUSD, Bitcoin and Cryptocurrencies

BUY & SELL XRPUSD | View XRPUSD News & Updates

Buy Sell XRPUSD, Bitcoin and Cryptocurrencies

EVN to issue $198m in corporate bonds   2009-04-28 - VietNamNet/VNS

                         Australia and New Zealand Banking Group Ltd (ANZ) and EVN Finance have closed a record VND3.5 trillion (US$197.7 million) five-year corporate bond deal with Viet Nam Electricity Corporation (EVN).

The debt issue has an interest rate that will be reset at regular intervals (unsecured floating-rate note) and was marketed over three days to domestic investors in Viet Nam.

ANZ and EVN Finance were joint lead managers and joint book-runners for the deal.

The deal is the largest dong bond transaction in Viet Nam to date and signals the re-opening of the dong corporate bond market which had been closed to corporate issuers for the past seven months due to the global credit crisis.

EVN Finance chief executive officer Hoang Van Ninh said: "This joint initiative between EVN Finance and ANZ enabled the rapid execution of the transaction and set new standards for dong corporate bond issues."

In an Asia Bond Monitor issued in February, the Asian Development Bank predicted that Government’s stimulus package would help expand Viet Nam’s bond market this year.

The monitor also forecasts that companies will turn to domestic markets to refinance or raise fresh funds. Investors have turned to bonds as the economy contracts, and yields dropped further last month from a high in September.

The guidance for corporate bond issues is expected to be published in 2010. The value of corporate bonds outstanding was up 69.4 per cent year-on-year as of December 2008, amounting to VND9.03 trillion ($517 million).

Other news

Institutional Investors Take Advantage of Market Rise   2009-04-28

Vietnam cuts rate on export credit to 2.9 percent   2009-04-28

Share trading rules may be eased   2009-04-28

Market comment   2009-04-28

Catfish prices soar but farmers short of stock   2009-04-27

BUSINESS IN BRIEF 27/4   2009-04-27

Banks fear lack of medium- and long-term capital   2009-04-27

Car imports up again, motorbike imports down   2009-04-27

Industrial production grows 5.4%   2009-04-27

River damming starts at A Luoi hydro-power project   2009-04-27

Catfish prices soar but farmers short of stock   2009-04-27

Vietnamese consumers optimistic about early economic recovery   2009-04-27

Sellers allay fears of price run-ups during holiday   2009-04-27

Holidays prompt profit-taking   2009-04-27