VinFast wants to raise 1 billion USD before IPO in the US
According to a source from Bloomberg, Vinfast is looking to raise between $500 million and $1 billion in convertible bonds before listing on the US stock exchange. The company and its financial advisors have been in contact with potential investors to estimate interest rates.
However, the informant said that all is still in discussion and nothing is certain yet. A representative of Vinfast also shared with Bloomberg that Vinfast is exploring many different options to raise capital and issuing convertible bonds is just one of them.
Currently, Vinfast plans to invest 6 billion USD to open an electric vehicle factory in the US and the company is negotiating with potential investors to raise billions of USD.
Recently, HSBC Bank said that it cooperated with a number of other banks to provide the first green syndicated loan for Vingroup and VinFast – a member company of Vingroup in the field of automobile manufacturing. Green loans totaling 500 million USD.
In addition, VinFast has completed the issuance of 50 million bonds with a par value of 100,000 VND from December 27, 2021 to March 8, 2022, earning 5,000 billion VND. From November 1, 2021 to now, Vinfast has successfully mobilized 11,500 billion VND through bond issuance.
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