PhuongDong Bank licensed to issue 2008 convertible bonds

The Governor of the State Bank of Vietnam (SBV) signed Decision No.2877/QD-NHNN on November 26, 2008 to allow the PhuongDong Joint-Stock Commercial Bank to issue 2008 convertible bonds with the total face value of VND 600 billion.

Under this decision, the Bank is required to conduct the issuance in accordance with Decision No.07/2008/QD-NHNN of March 24th, 2008 on issuing valuable papers in Vietnam applicable to credit institutions, and Decision No.16/2008/QD-NHNN of May 16th, 2008 on management mechanism of base rate in VND and other relevant regulations and laws.

In addition, the Bank should also conduct the issuance in compliance with its proposals submitted to SBV in Document No.79/CV-HDQT dated November 15 in terms of the purpose of the issuance, maturity, face value, issuing methods and currency, yield, etc.

VTH

SBV

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