Masan Resources approves $43m bond issuance plan

September 26, 2018 - 16:00

Masan Resources Corporation’s management board has approved the issuance of a maximum of 10 million bonds worth total VNĐ1 trillion (US$43 million), the company announced.

Masan Resources Corporation will issue bonds to raise funds for investment and business co-operation between the company and Núi Pháo Mining Co Ltd. — Photo kinhdoanhnet.vn

Viet Nam News

HÀ NỘI — Masan Resources Corporation’s management board has approved the issuance of a maximum of 10 million bonds worth total VNĐ1 trillion (US$43 million), the company announced.

This is a secured non-convertible bond without warrants and not a secondary debt of the issuer.

The 36-month bonds have a fixed interest rate of 9.8 per cent per annum for the first 12 months. For each subsequent six-month period, the coupon rate is equal to a sum of 3.2 per cent and the average interest rate of the four biggest banks set for 12-month term.

These bonds are expected to be issued in the third quarter in one or more tranches.

The funds raised from the bond issue will be used in investment and business co-operation between the company and Núi Pháo Mining Co Ltd.

Masan Resources are trading shares on the Unlisted Public Market Company (UPCoM) at around VNĐ22,000 ($0.94) per share. — VNS

Tags Vietnam Vietnam News Masan Resource bond issue news

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