Hanoi (VNS/VNA) - Vingroup (HOSE: VIC) is preparing to hit the international markets with a US dollar-denominated bond offering, the State Securities Commission has recently announced, signalling a move to strengthen its financial position and broaden access to global investors.
According to the Vietnamese conglomerate’s application, it plans to issue a maximum of 1,625 bonds with a face value of 200,000 USD per bond. The total expected issuance value is 325 million USD.
The bonds have a term of five years from the date of issuance, with an expected interest rate of 5.5% per year. The bonds are non-convertible, do not carry warrants and are unsecured, with repayment obligations resting solely on the issuer. Investors will have the option to receive shares of Vinpearl Joint Stock Company (VPL) owned by Vingroup.
The issuance is expected in the fourth quarter of 2025, subject to approval from relevant State agencies. The bonds will be issued and listed on Austria’s Vienna MTF and will not be offered or listed in Vietnam.
Vingroup’s semi-annual financial report for 2025 shows total financial debts of 279 trillion VND, 1.7 times higher than its equity. Outstanding bond debts account for nearly 94.24 trillion VND, while 150 million USD in convertible bonds were issued in August 2024 with a five-year term.
The group, led by billionaire Pham Nhat Vuong, is also seeking domestic capital. The Board of Directors approved the issuance of domestic private bonds valued at 3.5 trillion VND and 2.5 trillion VND on September 30 and September 26, respectively./.
VNA
