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Believing in Vietnamese giants, foreign giants are ready to invest billions of dollars in capital

Vingroup Corporation (VIC) has just announced the issuance of the first phase in 2022, with a scale of 525 million USD of bonds to the international market. The offering price for each bond is 1 million USD, expected to be exercised in May.

This plan was set by Vingroup’s Board of Directors from the end of 2021. As planned, this group will issue a maximum of 1.5 billion USD, divided into 2 phases. All bonds can be converted into shares of VinFast after the company turns into a joint stock company, owned by Vingroup.

According to Vingroup, the amount raised is equal to bonds used by the corporation to pay for issuance fees and expenses; In addition, it is to supplement and increase the scale of the group’s operating capital through direct investment capital contribution to VinFast to implement the project of developing VinFast automobile production complex.

In 2021, Vinpearl JSC (a subsidiary of Vingroup) successfully offered $425 million in the international market. This is a sustainable bond with the option to receive shares of Vingroup, and is also the first sustainable bond in the world with stock options. This bond will mature in 2026 with an interest rate of 3.25% pa.

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Many other businesses have also had successful international bond issuances.

BIM Real Estate Joint Stock Company (BIM Land), a member of BIM Group, in mid-2021 has successfully issued 200 million USD of international bonds that are non-convertable, unsecured, unwarranted, listed. on the Singapore Stock Exchange (SGX) with an interest rate of 7.375% and a term of 5 years.

BIM Land’s bonds received a lot of attention from foreign investors with the subscription volume 3 times higher than the offering volume. Investors come from Asia, Europe, China, both Africa and the US.

BIM Land mobilizes USD 200 million of bonds for the purpose of developing the company’s ongoing real estate projects, including many green and environmental protection projects.

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In 2019, VPBank mobilized 300 million USD of national bonds with interest rate of 6.25%, term of 3 years. In the same year, AES-TKV Mong Duong also issued USD 687.5 million.

In early 2020, Vietnam Electrical Equipment Corporation (Gelex) was supported by Standard Chartered Bank Vietnam to successfully issue VND 1,150 billion of 10-year bonds with a fixed interest rate of 6.95%/year. The issuance is guaranteed for payment by the Credit Guarantee and Investment Facility (CGIF), an Asian Development Bank (ADB) trust fund rated by S&P. AA globally.

Before Gelex, a number of Vietnamese enterprises were also guaranteed by CGIF to issue bonds worth trillions of VND, such as REE, Hoan My, The PAN Group, The Gioi Di Dong, etc. In 2012, Vietnam Bank for Industry and Trade (Vietinbank) ) has successfully issued 250 million USD of international bonds.

The fact that many Vietnamese enterprises have successfully mobilized international bonds is a positive signal. It shows that businesses have begun to penetrate the vibrant global capital market and have a certain credibility.

Mobilizing international capital not only helps businesses have more capital to expand their business activities, but also enhances their recognition in the international arena. It also shows that international investors are increasingly interested in Vietnamese businesses.

Over the years, foreign capital has also poured into Vietnam through direct investment (FDI) and indirect investment (FII). Vietnam’s economy has grown strongly over the past decade and is expected to continue to grow rapidly in the coming years.

Ngoc Cuong

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Risk of corporate bond default: Tight control to not collapseAfter the incident of Tan Hoang Minh Group, many investors are worriedly asking, is there a possibility of corporate bond default in Vietnam?

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