Many companies have proposed raising capital through private placement and issuance of convertible bonds, aiming to attract strategic investors.
Both real estate developer Sacomreal (SCR) and FECON Foundation Engineering & Underground Construction (FCN) plan to issue convertible bonds worth 500 billion VND (23.7 million USD) with a term of three years.
SCR will offer bonds with annual interest rates below 12 percent to its strategic investors. The conversion rate is 1:100, which means one bond can be converted into 100 shares and bondholders can make conversions three times –30 percent of the bonds in the first year, another 30 percent in the second year and 40 percent in the last year.
FCN's bonds have the par value of 1 million VND each and pay an interest rate of 6 percent per year. Bonds can also be converted three times, with the first time 15 months from the date of issuance and the maximum rate 50 percent of the bonds. The conversion price will not be lower than 19,500 VND a share.
VNDirect Securities Co also plans to issue 500 billion VND (23.8 million USD) worth of convertible bonds to its strategic partners and existing shareholders. The 12-month bonds will pay an interest rate of 5 percent per year. The capital raised from the issuance will fund the company's future M&A projects.
Meanwhile, shareholders of FIT Investment Co (FIT) approved the company's proposal of issuing convertible bonds worth 300 billion VND (14.28 million USD) next year. The one-year bonds will pay an interest rate of just 3 percent per year and be converted at the rate of 1:10.
Nam Bay Bay Investment Corp (NBB) is the only company that will offer convertible bonds in US dollars with a total value of 210 billion VND or 10 million USD. The interest rate will be 5-7.5 percent per year, but when issuing bonds in Vietnamese dong, the interest rate will be below 10 percent.-VNA
Both real estate developer Sacomreal (SCR) and FECON Foundation Engineering & Underground Construction (FCN) plan to issue convertible bonds worth 500 billion VND (23.7 million USD) with a term of three years.
SCR will offer bonds with annual interest rates below 12 percent to its strategic investors. The conversion rate is 1:100, which means one bond can be converted into 100 shares and bondholders can make conversions three times –30 percent of the bonds in the first year, another 30 percent in the second year and 40 percent in the last year.
FCN's bonds have the par value of 1 million VND each and pay an interest rate of 6 percent per year. Bonds can also be converted three times, with the first time 15 months from the date of issuance and the maximum rate 50 percent of the bonds. The conversion price will not be lower than 19,500 VND a share.
VNDirect Securities Co also plans to issue 500 billion VND (23.8 million USD) worth of convertible bonds to its strategic partners and existing shareholders. The 12-month bonds will pay an interest rate of 5 percent per year. The capital raised from the issuance will fund the company's future M&A projects.
Meanwhile, shareholders of FIT Investment Co (FIT) approved the company's proposal of issuing convertible bonds worth 300 billion VND (14.28 million USD) next year. The one-year bonds will pay an interest rate of just 3 percent per year and be converted at the rate of 1:10.
Nam Bay Bay Investment Corp (NBB) is the only company that will offer convertible bonds in US dollars with a total value of 210 billion VND or 10 million USD. The interest rate will be 5-7.5 percent per year, but when issuing bonds in Vietnamese dong, the interest rate will be below 10 percent.-VNA
