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Foreign banks seek to advise CTG's offshore bond
Ten foreign bidders have submitted bids to become advisers for VietinBank (HOSE: CTG), Vietnam's largest partly private lender by assets, as it seeks to raise up to $1 billion via international bonds, an official at the Vietnamese bank said on Wednesday.
"Our shareholder's meeting has approved to raise between $500 million and $1 billion via international bonds but the adviser would help us decide the right amount," the official said.
She said many of the bidders attending the Tuesday tender were foreign banks. The Hanoi-based bank received bids from banks including Goldman Sachs, Australia and New Zealand Banking Group, HSBC and Morgan Stanley, the Vietnam Economic Times newspaper reported on Wednesday.
Standard Chartered Bank, J.P. Morgan Chase Bank, Deutsche Bank and BNP Paribas were also among other bidders, the newspaper said. CTG hoped to sell the bond in the earliest time possible, the Vietnam Economic Times said without providing further details. CTG, 10 percent owned by the International Finance Corporation, has said it planned to raise bonds overseas this year to finance major projects.
Reuters
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