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**Cheeniandab** · 03-19-2012, 01:20 PM

VietinBank plans Vietnam’s first dollar bond in eight months

Vietnam Joint Stock Commercial Bank for Industry and Trade, known as VietinBank, plans to meet with bond investors from March 19 about Vietnam’s first dollar-bond since July.

VietinBank will sell its debut US dollar-denominated notes about five days after the meetings, Chairman Pham Huy Hung said by telephone today. Standard & Poor’s gave the lender a B+/B issuer credit rating with negative outlook Friday, reflecting the credit rating company’s view on Vietnam’s sovereign rating.

The Hanoi-based lender plans a $500 million overseas bond sale this year that may offer a coupon of between 5 percent and 6 percent, Hung said in an interview in September.

The last dollar-note from a Vietnamese company was the $40 million of 6 percent convertible bonds for Vincom Joint-Stock Co., the country’s largest listed real-estate company by market value, according to data compiled by Bloomberg.

The coupon will be determined based on market conditions, VietinBank’s Deputy General Director Le Duc Tho said at a company conference in September.

HSBC Holdings Plc and Barclays Plc were appointed as advisers and will jointly arrange the sale, Tho told Bloomberg on Sept. 12.

03-19-2012, 01:20 PM	#13
Cheeniandab Join Date Nov 2005 Posts 416 Senior Member	VietinBank plans Vietnam’s first dollar bond in eight months Vietnam Joint Stock Commercial Bank for Industry and Trade, known as VietinBank, plans to meet with bond investors from March 19 about Vietnam’s first dollar-bond since July. VietinBank will sell its debut US dollar-denominated notes about five days after the meetings, Chairman Pham Huy Hung said by telephone today. Standard & Poor’s gave the lender a B+/B issuer credit rating with negative outlook Friday, reflecting the credit rating company’s view on Vietnam’s sovereign rating. The Hanoi-based lender plans a $500 million overseas bond sale this year that may offer a coupon of between 5 percent and 6 percent, Hung said in an interview in September. The last dollar-note from a Vietnamese company was the $40 million of 6 percent convertible bonds for Vincom Joint-Stock Co., the country’s largest listed real-estate company by market value, according to data compiled by Bloomberg. The coupon will be determined based on market conditions, VietinBank’s Deputy General Director Le Duc Tho said at a company conference in September. HSBC Holdings Plc and Barclays Plc were appointed as advisers and will jointly arrange the sale, Tho told Bloomberg on Sept. 12.
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