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Banking & Finance

Masan to issue bonds

Released at: 14:09, 11/06/2015

Masan to issue bonds

Group signs deal with Vietcombank over bond issuance, which has already attracted interest among some banks.

by Hung Nguyen

Masan Consumer Holdings (MCH) signed an agreement with Vietcombank on June 10 to issue VND9 trillion ($412.83 million) worth of bonds with five-year maturities, with the bank to organize the issuance.

This is the largest bond issue by a private organization in Vietnam’s stock market.

Capital raised from the issuance will be used to optimize the consolidated balance sheet the Masan Group, including the repayment of existing debts and the cutting of operational expenses due to market conditions becoming more favorable.

Registrations to buy the bonds now stand at 15 per cent of the volume.

Some major banks has expressed interest, such as Vietcombank, which registered to buy VND5.4 trillion ($247.69 million) worth of bonds, VIB, with VND1 trillion ($45.87 million) worth, and BIDV with VND9 billion ($41.28 million) worth.

Vietcombank Securities will be the issuance company, with a representative saying that this is also the first issuance Vietcombank has been involved in this year that is valued in the trillions of VND.

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