Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) has just announced the issuance of bonds to the public in 2018 with the registered offered volume of 400,000 units, equal to four trillion dong.
These are unconvertible bonds, not secured by assets of the issuer. The par value is 10,000 dong per bond with 10-year term. At the end of 5-year term, VietinBank can exercise the right to acquire the entire aforementioned bonds, not allowed to purchase a part.
The offer price is equal to the par value. The minimum registered volume is five bonds, equal to 50 million dong. The time for receiving registration to purchase and making payment is from June 5 to June 25, 2018. The issuance date is expected to be June 28, 2018.
According to Vietinbank’s prospectus, the proceeds from the bond issuance will be used to offer medium and long-term loans to many sectors, of which, 1.232 trillion dong will be disbursed to the power sector, compared to 893 billion dong to the construction sector, 591 billion dong to the water sector, 475 billion dong to the steel sector, 230 billion dong to the wood industry and 579 billion dong to other manufacturing and business sectors.
