Cement maker raises 700b dong from issuing corporate bonds

Cong Thanh Cement Joint Stock Co announced it issued 700,000 bonds at one million dong par with total value of 700 billion dong on May 21, 2010.

The bonds carry terms of five years (355 billion dong) and eight years (345 billion dong).

Five year bonds have the coupon rate of 15.5 percent per year applied on first 12 months from being issued and the floating rates for following years. The coupon rate will be adjusted every six months and calculated based on the 12-month deposit rate of Vietcombank-HCM City arm plus 4 percent pa.

Eight-year bonds have the coupon rate of 16 percent per year applied on first 12 months from being issued and the floating rates for following years. The coupon rate will be adjusted every six months and calculated based on the 12-month deposit rate of Vietcombank-HCM City arm plus 4.5 percent pa.

The capital raised from the corporate bond issue will be invested in production line 2 of Cong Thanh cement plant.

Tags: Cong Thanh Cement, Vietnam cement, vietnam stock, Vietnam stock market

Posted by VBN on May 25 2010. Filed under Cement, Stock. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry