SGB and VietA Banks licensed to issue convertible bonds

The Governor of the State Bank of Vietnam (SBV) issued on October 2nd, 2008 Decision No.2187/QD-NHNN and Decision No.2188/QD-NHNN to allow the SaiGon Joint-Stock Commercial Bank of Industry and Trade (SGB) and the VietA Join-Stock Commercial Bank (VietA Bank) to issue 2008 convertible bonds with the total face value of VND 1,000 billion and VND 400 billion respectively.

Under these decisions, the two banks are required to conduct the issuance in accordance with Decision No.07/2008/QD-NHNN of March 24th, 2008 on issuing valuable papers applicable to credit institutions in Vietnam, Decision No.16/2008/QD-NHNN of May 16th, 2008 on the regulating mechanism of the VND prime interest rate and the other legal documents.

Other contents, including the purpose of the issuance, duration, face value, and issuing methods, currencies and places, etc. will be conducted in accordance with the requested details in Document No.54/2008/PA-HDQT of March 28th, 2008 of SGB and Document No.30A/VAB of March 15th 2008 of VietA Bank.

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