IB Securities to issue $26.67m of bonds

The Ha Noi-based IB Securities JSC plans to issue VND600 billion (US$26.67 million) worth of bonds in 2017.

The bond notes will be unconvertible and non-guaranteed. The bonds will mature in one to three years, with the face value of each bond note VND1 billion.

The annual yield rate is less than 12 per cent for the first year after issuance. The yield rate will be adjusted every six months based on the average deposit rate of the four state-owned commercial banks plus a margin of 4 per cent on either side.

The bond will be issued on several occasions with the first issuance expected in the first quarter of 2017. The next issuances will be based on the result of the first one and the company’s demand for capital.

IB Securities in 2016 earned revenue of VND182.16 billion and post-tax profits of VND54.8 billion, a increase of 19.3 per cent and a decrease of 17 per cent from 2015’s figures.

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