Vietnam's Hoan My Medical raises $100 mln in bonds

By Reuters   October 9, 2018 | 01:06 pm GMT+7
Vietnam's Hoan My Medical raises $100 mln in bonds
A Hoan My hospital building in southern Dong Nai Province, Vietnam. Photo courtesy of Hoan My

Private hospital chain Hoan My Medical Corp has raised bonds worth VND2.33 trillion ($99.9 million) through Standard Chartered Bank (SCB) Vietnam.

The dong-denominated fixed-rate bonds has a bid-to-cover ratio of 2.5 with annual interest rate of 6.64 percent for the 5-year maturity term and 6.74 percent for the 7-year maturity term, SCB Vietnam said in a statement late Monday.

“We are pleased to arrange the first healthcare bond for the healthcare industry in Vietnam for Hoan My,” said Nirukt Sapru, chief executive of SCB for Vietnam and ASEAN & South Asia Cluster Markets.

The issuance was guaranteed by Credit Guarantee and Investment Facility (CGIF), a trust fund of Asian Development Bank rated AA internationally by S&P, SCB said.

Hoan My, one of the largest private hospitals in Vietnam, has 14 hospitals and six clinics, serving more than three million patients annually, according to the statement.

 
 
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