Hanoi (VNA) – Standard Chartered Bank Vietnam on January 29 announced itsarrangement for the Refrigeration Electrical Engineering Corporation (REE) toissue 2.31 trillion VND (100 million USD) in fixed rate bonds.
The issuance was guaranteed by Credit Guarantee and Investment Facility (CGIF),a trust fund of the Asian Development Bank that has been rated AAinternationally by S&P Global.
REE, established in 1977, operates in the primary fields of mechanical andelectrical engineering services (M&E), manufacturing and assembling andsales of Reetech air-conditioner systems, real estate development andmanagement, and power and water utility infrastructures.
As one of the first companies to list its shares on the Ho Chi Minh StockExchange, REE is among the 30 largest companies in terms of marketcapitalisation (as of December 31, 2017, REE’s market value is 12.86 trillionVND).
According to Nirukt Sapru – a representative of Standard Chartered Bank Vietnam,ASEAN, and South Asia Cluster Markets – assisting REE in its first bondissuance helps Standard Chartered Vietnam develop its capital market.
Thebank – with its deep understanding of the domestic market, large network, andconsiderable experience – commits to supporting its customers to concretisesustainable growth opportunities, he said.
Meanwhile, REE CFO Nguyen Ngoc Thai Binh said that the move helps his firmdiversify capital mobilising measures to meet the demand of expanding itsbusiness.
The 100 million USD bonds are priced at an annual interest rate of 7 percentfor the 10-year maturity term. –VNA
The issuance was guaranteed by Credit Guarantee and Investment Facility (CGIF),a trust fund of the Asian Development Bank that has been rated AAinternationally by S&P Global.
REE, established in 1977, operates in the primary fields of mechanical andelectrical engineering services (M&E), manufacturing and assembling andsales of Reetech air-conditioner systems, real estate development andmanagement, and power and water utility infrastructures.
As one of the first companies to list its shares on the Ho Chi Minh StockExchange, REE is among the 30 largest companies in terms of marketcapitalisation (as of December 31, 2017, REE’s market value is 12.86 trillionVND).
According to Nirukt Sapru – a representative of Standard Chartered Bank Vietnam,ASEAN, and South Asia Cluster Markets – assisting REE in its first bondissuance helps Standard Chartered Vietnam develop its capital market.
Thebank – with its deep understanding of the domestic market, large network, andconsiderable experience – commits to supporting its customers to concretisesustainable growth opportunities, he said.
Meanwhile, REE CFO Nguyen Ngoc Thai Binh said that the move helps his firmdiversify capital mobilising measures to meet the demand of expanding itsbusiness.
The 100 million USD bonds are priced at an annual interest rate of 7 percentfor the 10-year maturity term. –VNA
VNA
