Vietcombank to make $256 mln bond issuance

By Dat Nguyen March 18, 2020 | 07:54 pm PT

The logo of Vietcombank at an ATM in Hoan Kiem District, Hanoi. Photo by Shutterstock/Asia Images.

Lender Vietcombank is set to issue VND6 trillion ($256 million) worth of bonds this year to fund operations.

They will have a maturity of five years and a coupon rate of 5.4 percent, and will be issued via private placement.

State-owned Vietcombank, the largest commercial bank by market capitalization in the country, last year reported pretax profit growth of 26 percent to VND23.15 trillion ($988 million).

It targets 15 percent growth this year.

Vietnam’s corporate bonds issuance last year rose 25 percent to VND280.14 trillion ($12 billion), with 41 percent of them from banks, according to top brokerage SSI Securities Corporation (SSI).