Vietcombank Securities to issue $8.89b of bonds

Vietcombank Securities Co Ltd (VCBS) plans to issue 200,000 bond notes to 100 investors on February 15. The face value of the bond has been set at VND1 million (US$44.44).

The total value of the share issuance will be VND200 billion and investors have to buy at least 2,000 bond notes worth VND2 billion.

The maturity of the bond is two years and interest will be paid every six months. The yield rate is 7.7 per cent per year for the first interest payment. For the next 12 months and following payments, the yield rate will be 1 per cent plus 12-month deposit rate at Vietcombank.

According to a report by the Ha Noi Stock Exchange on January 9, VCBS ranked eighth among 10 securities companies that had the biggest market shares in the northern market in the fourth quarter of 2016. VCBS had a market share of 3.66 per cent.

In 2017, VCBS targets a revenue of VND407 billion, and a profit of VND115 billion – 15 per cent higher than 2016.

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