Vietinbank may offer 6 percent coupon on $500 million bond

Vietnam Joint Stock Commercial Bank for Industry & Trade, or VietinBank, may offer a coupon of 5 percent to 6 percent on its planned $500 million overseas bond sale this year, Chairman Pham Huy Hung said in an interview in Hanoi today.
The lender is “determined to sell the bonds within this year,” said Hung.

The coupon will be determined based on market conditions, Deputy General Director Le Duc Tho said at a company conference.

The bond sale will take place in the fourth quarter, Tho said. The company has sought approval from the country’s central bank for the issue, he said last month.

HSBC Holdings Plc and Barclays Bank Plc have been appointed advisers and will jointly arrange the sale, Tho told Bloomberg News Sept. 12.
Bloomberg

Tags: Vietinbank, Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Sep 16 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry