VietinBank to issue bonds worth $427.5 million

May 27, 2019 - 07:49

The State Bank of Việt Nam has approved the plan submitted by the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) to issue bonds worth VNĐ 10 trillion (US$427.5 million).

VietinBank is allowed to repurchase bonds issued in 2019 and is responsible for using the capital collected from the bond issuance for the right purpose. — Photo cafef.vn

HÀ NỘI — The State Bank of Việt Nam has approved the plan submitted by the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) to issue bonds worth VNĐ10 trillion (US$427.5 million).

Bond interest rates will be decided by VietinBank but must be consistent with the law, ensuring business efficiency and banking safety.

Bond buyers will include Vietnamese and international organisations and individuals.

VietinBank will be allowed to repurchase bonds issued in 2019 and will be responsible for using the capital raised from the bond issuance for the right purposes.

Over the past year, VietinBank has issued bonds to maintain and raise its capital adequacy ratio (CAR), which is currently at the minimum level prescribed by law.

By the end of the first quarter, VietinBank's valuable papers totalled VNĐ46.2 trillion, equivalent to the beginning of the year, of which VNĐ32.2 trillion was in bonds. The remainder was mainly certificates of deposit worth VNĐ14 trillion. — VNS

Tags corporate bonds Vietinbank bond issuance

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

FDI commitments to Việt Nam hit four-year high

The FDI inflow also represented a yearly increase of 69 per cent

Economy

SBV’s many tools to regulate currency exchange rates

Experts say Việt Nam has many weapons in its armoury to stabilise exchange rates.

Economy

More purchases of small stocks this week: analysts

Investors have sought opportunities in defensive stocks amid rising fears about the US-China trade war, and brokerage firms expect the trend to continue this week.

Economy

Ninh Thuận builds more solar, wind projects

The central province of Ninh Thuận aims to become the renewable-energy centre of the country, with assistance from the central government's preferential policies.

Economy

State-owned banks to retain dividends for capital hike

Authorities have basically agreed on a State Bank of Việt Nam (SBV) proposal to allow large State-owned commercial banks to retain their dividends or pay them in shares to increase capital.

Economy

Vinamilk builds organic milk farm in Laos

The first stage of a project to establish a US$500 million organic milch cow farming complex started in the Lao province of Xiengkhouang late last week.

Economy

Vietnamese businesses eye trade promotion in RCEP region

Vietnamese enterprises were looking forward to promoting their businesses under the Regional Comprehensive Economic Partnership to take advantage of a market that is home to 50 per cent of the global population.

Economy

Industry has important role to overcome middle income trap in VN

The middle income trap is closely tied to economic growth, so if growth doesn’t stay high and for decades and there is not high income per capita, the nation will fall into the middle income trap