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VFC: Announcement of a convertible bond issuance
On July 27th 2010, Vinafco Joint Stock Corporation got an agreement with a partner to issue convertible bonds.
The Board of Directors approved a plan to issue convertible bonds in 2010 with the following main content:
* Issuer: Vinafco Joint Stock Corporation
* Total issue value: VND150 billion
* Bond type: Convertible bond
* Par value: VND100,000/bond
* Offering price: VND100,000/bond
* Issue method: a private placement.
* Price of a share to convert from bond: VND10,000/share
* Bond interest: 8%/year
* Bond term: 1 year from the issue date.
* Conversion ratio: 1:10
If bondholders do not implement rights to convert bonds into shares, bondholders can ask the Company to pay bond principal and interest in cash.
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