Sacomreal to issue bonds worth VND400 billion

The Sai Gon-Thuong Tin Real Estate Joint Stock Company (Sacomreal) will issue bonds worth VND400 billion (US$17.8 million) to expand operations.

The bonds will be issued in the first quarter of 2017 at a face value of VND1 billion.

It has a 42-month maturity period, and returns will be paid every three months. The yield in the first year will be fixed at 10.5 per cent per year.

The returns for the remaining months will be calculated based on the average 12-month deposit rates of four banks: TPBank, VIB, Vietcombank and Vietinbank, plus a margin of less than 3.5 per cent.

The source for payments will come from the sale of 95 villas and townhouses of Jamona Golden Silk and Sacomreal’s other businesses.

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