The Asian Commercial Joint Stock Bank (ACB) plans to issue 2.2 trillion VND (94.4 million USD) worth of non-convertible bonds by the end of 2018. (Photo: ACB)

Hanoi (VNA) - The Asian Commercial Joint Stock Bank (ACB) has announced a plan to issue 2.2 trillion VND (94.4 million USD) worth of non-convertible bonds by the end of 2018.

The 2,200 bonds would mark the bank’s second issuance round this year.

The bonds will mature in 10 years with face value of 1 billion VND per bond, the bank said in a statement, adding that bond yield will be paid every year from the issuance date.

The bank expects the upcoming bond issuance to help raise its chartered capital so it can meet demand for medium- and long-term loans.

The first bond issuance round took place on November 12 and ACB issued 2.2 trillion VND worth of non-convertible bonds, which will mature in three years with an annual yield rate of 6 percent.

ACB is listing more than 1.12 billion shares, 90 percent of its total outstanding shares, on the Hanoi Stock Exchange with code ACB.-VNA