TCH inks bond issuance contracts with SK investors

March 01, 2019 - 17:49

Hoàng Huy Investment Financial Services JSC (TCH) on Thursday issued VNĐ1.2 trillion (US$50 million) worth of convertible corporate bonds to South Korean investors.

A view of Golden Land, a real estate project developed by Hoàng Huy Investment Financial Services JSC (TCH). — Photo reatimes.vn

Viet Nam News

HẢI PHÒNG — Hoàng Huy Investment Financial Services JSC (TCH) on Thursday issued VNĐ1.2 trillion (US$50 million) worth of convertible corporate bonds to South Korean investors.

The South Korean investors were Shinhan Investment, CoreTrend Investment and ValueSystem Optimus Protect Private Investment Fund. TCH’s corporate bond issuance was announced early last week.

The convertible corporate bonds will mature in three years and the yield rate is 7 per cent per annum.

Signing agreements with three South Korean investors made TCH the first company to raise capital through corporate bond issuance this year.

According to the Vietnamese company, the capital raised from South Korean investors would help it develop large-scale real estate projects such as Golden Land in Hà Nội and Hoàng Huy Riverside, Hoàng Huy Mall and Pruksa Town in Hải Phòng.

Early this week, TCH announced it would develop a VNĐ2 trillion real estate project in Hải Phòng’s Lê Chân District with 70 per cent of the capital being funded by external investors.

TCH is listing on the Hồ Chí Minh Stock Exchange with code TCH. The firm’s shares fell 1.2 per cent to close Friday at VNĐ24,100 ($1.03) per share. — VNS

Tags Vietnam Bond issuance Vietnam News news TCH

Việt Nam needs development of green products exported to UK

Economy

UK’s carbon tax to affect VN exports

Economy

Việt Nam expects to officially export passion fruit to the US next year

Economy

VN faced with increasing trade defence investigations on rising protectionism

Economy

Experts point out economic growth drivers, challenges for next year

Economy

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

More on this story

Economy

VinFast cars to be tested in Europe this month

The first VinFast cars would be tested in Europe on March 6 this year, reported Vietnam News Agency.

Economy

Gas price increases for third straight month

Gas prices in the south increased by VNĐ17,000 (72 US cents) for a 12kg canister on Friday (March 1).

Economy

Phạm Nhật Vượng quits Vinhomes’ chairman position

Vinhomes Joint Stock Company, a member of property developer Vingroup, has appointed Nguyễn Diệu Linh as the new chairman of the board of directors, starting February 28.

Economy

Việt Nam sees reduction of new firms in Feb

The number of new firms in February was estimated to reduce 41.5 per cent month on month to 5,900 due to the Lunar New Year holiday, according to the General Statistics Office (GSO).

Economy

Lotte Finance admitted to Vietnam Banking Association

Lotte Vietnam Finance Company Limited (Lotte Finance) has become the first Korean financial institution to become an official member of the Việt Nam Banking Association (VBA).

Economy

South Korean financial group likely to invest in Agribank

South Korea’s Nonghuypbank is looking at becoming a strategic investor in Agribank as it is due to make an initial public offering (IPO) at the end of this year.

Economy

Processing, packaging technologies expo in HCM City in March

A wide range of products and technologies related to the processing and packaging industries will be on display at the 2019 ProPak Vietnam, a major annual exhibition, to be held in HCM City from March 19 to 21.

Economy

Domestic automobile industry set for good growth

The Vietnamese automobile industry is expected to grow well, driven mainly by an increase in per capita income, demand for cars, and infrastructure improvement

Economy

HFT Securities to tie up with Korean firm

HFT Securities Corporation has selected South Korea-based Hanwha Investment and Securities Co as its foreign investor allowed to buy more than 25 per cent of its charter capital without a public bid.