VietinbankSC underwrites $8.97m of bonds

The Vietnam Joint Stock Bank of Industry and Trade Securities Joint Stock Company (VietinbankSC) successfully underwrote US$8.97 million of bonds for the northern province Bac Ninh People's Committee.

Previously, the Bac Ninh Financial Department on September issued local bonds through underwriting method, which is guaranteed by VietinbankSC.

Each bond will be valued at VND100,000 ($4.48) with the term of five years and the interest rate of 7.2 per cent per year.

According to the bond issue proposal of the Bac Ninh People's Committee, the batch aims to raise funds for investment and local socio-economic development.

VietinbankSC, established in 2000, has chartered capital of VND789 billion ($35.4 million). During the first nine months of this year, the company has finished 64 consultancy contracts, including 10 capital arrangement contracts and 54 traditional consultancy contracts.

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