Infrastructure firm set to issue bonds

The HCM City Infrastructure Investment Co (CII) will issue VND275 billion (US$13 million) worth of bonds this year to raise investment capital towards the construction of a bridge connecting Binh Thanh District and District 2, the company announced.

The 7-year bonds will pay an interest rate of 15.2 per cent per year and come with the option of buying shares in the Sai Gon 2 Bridge Construction co, in charge of operations, at a price of VND10,460 per share.

CII also announced it will advance 2011 dividends for existing shareholders in the form of cash at a rate of 18 per cent. The company has targeted earning VND594.6 billion ($28.3 million) in revenues and VND282.7 billion ($13.5 million) in net profits during 2012.

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