Vietnamese property developer Vincom JSC on March 27 successfully issued convertible bonds worth 185 million USD with maturity of five years and a coupon rate of 5 percent a year.

The bonds will also be listed at the Singaporean securities exchange after the issue.

Vincom said the bonds will be converted into equity 41 days after issue at a price of 112,200 VND each.

Vincom was the first business in Vietnam to issue convertible bonds ¬– in December, 2009. It raised 100 million USD from the initial issue and 99.9 percent of the bonds were converted into equity in June, 2011.

It plans to issue convertible bonds worth up to 300 million USD this year.-VNA