Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."




Join Us for Dinar Discussions and More -- We Keep it REAL
 
HomeSearchFAQLog inRegister
YOU MUST Sign in with your USERNAME to POST
Follow us on TWITTER
DINAR INFORMATION LINKS

PARTNER SITES
Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap
Share | 
 

 VIETNAM VietinBank bonds snapped up by foreign investors

View previous topic View next topic Go down 
AuthorMessage
1alaskan
Elite Member
Elite Member


Posts : 4668
Join date : 2011-06-21
Age : 34
Location : Planet far far away

PostSubject: VIETNAM VietinBank bonds snapped up by foreign investors   Mon May 14, 2012 8:49 pm

VietinBank bonds snapped up by foreign investors

VietFinanceNews.com - The Vietnam Bank for Industry and Trade (VietinBank) has become the first local financial institution to successfully issue US$250 million worth of bonds in international markets at an annual real coupon of 8.25%.

“On the issuance date, May 10, we sold out the bonds to investors from Asian, European and American markets. The coupon is set at 8% per annum with the maturity due in 2017 and the real coupon fixed at 8.25% yearly,” said VietinBank deputy general director Le Duc Tho.

“An international bond sale is a suitable solution for VietinBank to mobilize capital thanks to moderate borrowing costs. Especially, it is also a way for us to explore the interest of foreign investors towards the local market,” Tho told the Daily on the phone.

Tho said he believed the first bond issuance would pave the way for his bank and other local enterprises to enter bond markets outside the country. In the context of international investors’ concerns over uncertainties on global capital markets, Tho said good performance of his bank’s bond issuance was a positive signal.

VietinBank targets to mobilize up to US$2 billion from foreign markets in the years to come. In a statement released last Saturday, HSBC Bank (Vietnam) announced its role as the only management and credit ratings consulting agency for the deal.

VietinBank will pay the coupon of the U.S. dollar-denominated bonds twice a year upon the payment date. The lender will use surplus amounts from the deal to lend customers for its general proposes subject to prevailing laws, the central bank’s regulations as well as other agreements it is involved in to get the bond issuance permission, said HSBC Bank (Vietnam)’s statement.

HSBC Vietnam pointed out the deal has contributed to improving the image of the local growing capital market.

In the backdrop of international bond markets facing difficulties, the success of VietinBank’s bond issuance has proved foreign investors are confident of the lender and this will offer more chances for other local companies, according to Sumit Dutta, chief executive officer of HSBC Bank (Vietnam).

Like VietinBank, a number of State-owned conglomerates and corporations over the past two years have also outlined plans to issue international bonds to cope with tough capital attraction at home. However, the collapse of the loss-making Vietnam Shipbuilding Industry Group (Vinashin) shows weak financial conditions of these enterprises, meaning they are still not ready to realize the schemes.

http://www.vietfinancenews.com/2012/05/vietinbank-bonds-snapped-up-by-foreign.html

*****************
Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant


Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty
Back to top Go down
View user profile
 
VIETNAM VietinBank bonds snapped up by foreign investors
View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
Dinar Daily :: OTHER INVESTMENTS :: OTHER CURRENCIES - DONG - ZIM - YUAN - etc-
Jump to: