Vingroup has successfully issued additional international convertible bonds worth US$115 million to now raise the total amount to $300 million, a Vingroup spokesman announced yesterday evening.
Vingroup launched the issuance of the first phase of international convertible bonds in April 2012. Now with the second issuance of international bonds, Vingroup’s total value of international convertible bonds has been raised to $300 million.
This issuance of international convertible bonds by Vingroup was the second largest in Asia since early 2012 after the issuance of convertible bonds by Khazanah Group International (Malaysia).
Thus, after three months from the first issue of international convertible bonds of $185 million, that were a success, Vingroup continued to sell out $115 million of convertible bonds which were mostly bought out by international investors.
These types of bonds are without security assets, have 5 year maturity, are issued in US dollars with coupon rate of 5 percent per year, with six months payment at maturity and are listed on the Securities Trading Floor in Singapore immediately after their release.
The conversion price for this issuance is VND88,000 VND per share at a rate for 1,000 shares and conversion rights of the bondholders are made immediately upon completion of the issuance.