EVN issues 500 billion VND of bonds

The Electricity of Vietnam Group (EVN)’s Finance Joint Stock Company issued 500 billion VND (28.5 million USD) worth of bonds on Jan. 15.

The EVN bonds have a five-year maturity period, with annual interest rate calculations being based on the level of the base rate plus a floating rate.

Money raised from the sale of these bonds will be used to fund hydroelectric power plants in Ban Ve, A Vuong, Song Tranh 2, Se San 4, Buon Tua Srah, Buon Kuop, Srepok 3, Dong Nai 3-4, Ba Ha, An Khe Kanak, Huoi Quang, Ban Chat and Son La, and the Uong Bi MR-2 thermoelectric power plant.

This is the first issuance of a series of bonds, worth a total of 4 trillion VND (roughly 228.5 million USD) that EVN has gained permission for release between now and 2010.

To date, EVN has issued bonds on nine occasions with a combined value of 6.5 trillion VND (371.5 million USD).

VNA

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