EVN completes record bond placement

The Australia and New Zealand Banking Group (ANZ) and the Vietnam Electricity Corporation Finance Friday completed a VND3.5-trillion (US$196.85 million) five-year corporate bond issue for the latter’s parent EVN Group.

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

ANZ and EVN Finance were joint lead managers and joint book-runners for the issue, a full book build for a five-year senior unsecured floating rate note which was marketed to domestic institutional investors in Vietnam, ANZ said.

EVN Finance CEO Hoang Van Ninh said, “This joint initiative between EVN Finance and ANZ enabled the rapid execution of the transaction and set new standards for Vietnamese dong corporate bond issues.”

EVN Group is the country’s monopoly power distributor.

Vinh Bao

thanhnien

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