Vinhomes to raise $500 mln through bonds

By Dat Nguyen May 18, 2020 | 08:48 pm PT

A Vinhomes apartment complex seen in Binh Thanh District, Ho Chi Minh City. Photo by Shutterstock/Le Minh Ty.

Vinhomes, a subsidiary of Vietnam’s largest listed company Vingroup, plans to make a VND12 trillion ($519 million) bond issuance this year.

To be done in installments of VND5.5 trillion ($238 million) and the second VND6.5 trillion ($281 million), the 18-month bonds will carry a combination of fixed and floating interest rates though the company has not disclosed the rates.

Vinhomes was the most profitable listed company in the first quarter after profits rose 2.8 times year-on-year to VND7.6 trillion ($329 million).

In March the company branched into industrial real estate with the establishment of Vinhomes Industrial Zones Investment (Vinhomes IZ), which it said would be one of three pillars of growth, with the other two being apartments and offices.