Vingroup will reduce the size of international bond issuance in 2022 from $1.5 billion to $1 billion and increase the number of issuances to three.
The adjustment of the international bond issuance plan in 2022 has just been approved by the Board of Directors of Vingroup (VIC).
Accordingly, the total issuance value at the maximum par value this year is adjusted to 1 billion USD, down 0.5 billion USD compared to the plan approved at the end of December 2021. The corresponding maximum number of bonds is 1,000, with the par value of each bond is 1 million USD.
The number of issuances is expected to increase to three rounds, compared to the old plan of two, according to the adjustment in April.
First release approved by the Vingroup Board of Directors in early May with a scale of 525 million USD. The proceeds from the issuance are used to supplement capital for Vingroup to pay fees and expenses for the issuance of bonds, and to contribute capital directly to VinFast to implement the VinFast car production complex project.
Along with changing the plan to issue international bonds, Vingroup has also approved the use of collateral and payment guarantees for VinFast so that the company can issue a maximum of VND 2,000 billion of bonds this year.
In early April, VinFast said that its Singapore-based parent company had filed an application for an initial public offering (IPO) with US securities regulators, after the company announced its plan to invested $4 billion to build a factory in North Carolina.
VinFast, which started operations in 2019, is betting on the US market, hoping to compete with automakers and startups with two electric SUVs and a battery-rental model to reduce prices. Fort.
at Blogtuan.info – Source: vnexpress.net – Read the original article here