Vietcombank successfully issues non-convertible bonds worth $88m

The Bank for Foreign Trade of Viet Nam (Vietcombank) on Monday announced it successfully issued non-convertible bonds worth VND2 trillion (US$88 million).

According to the bank, it sold out all 20 million bonds to the public at par value of VND100,000 per unit, of which foreign investors hold 0.81 per cent of the total value.

With the successful issue, charter capital of the Viet Nam’s largest lender by market value increases to VND28.65 trillion.

Previously, in early August, the State Bank of Viet Nam (SBV) approved Vietcombank’s plan to issue bonds worth VND8 trillion in 2016.

The central bank asked Vietcombank to use the funds raised from the issue of bonds for appropriate purposes and with efficiency.

The bank should focus on sectors of priority, restrict lending to potentially risky sectors, such as real estate, and avoid credit risk concentration on large customers, SBV said.

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