Techcombank to issue bonds worth $430 mln - TBA Việt Nam
TBA is abbreviation from the Thai Business (Vietnam) Association. It is a non-governmental and non-profit Organization and is established under the License No. 02/GP-HHDN issued on Feb.26, 1999 by HCMC People’s Committee. As of today, TBA has more than 100 Members. TBA is one of over 22 Foreign Business Groups & Associations in Vietnam and TBA is the first Business Association among ASEAN Business Groups & Associations.
The Thai Business Vietnam Association
post-template-default,single,single-post,postid-20580,single-format-standard,ajax_fade,page_not_loaded,,qode-title-hidden,qode-content-sidebar-responsive,qode-theme-ver-17.2,qode-theme-bridge,wpb-js-composer js-comp-ver-5.6,vc_responsive

Techcombank to issue bonds worth $430 mln

Techcombank plans to issue VND10 trillion ($430 million) in bonds through two private placements before the end of this year.

The bonds will have a maturity date of up to three years with a par value of VND1 billion ($43,000) or a multiple of VND100,000 ($4.3), the bank said in a statement.

The interest rate of the bonds, which are non-convertible and non-collateral, will be decided by the bank’s CEO at each issuance.

The bonds are set to be issued in the third and last quarter of this year, with each issue worth VND5 trillion ($215 million).

Buyers will include individuals and corporates, both local and foreign, but not credit organizations, foreign bank branches and member companies of credit institutions.

Techcombank, the largest private bank in the country, said the bond issuance aims to increase its capital adequacy ratio and scale up operations.

Techcombank’s plans follow a large number of banks that have been issuing bonds since earlier this year to increase their capital.

Between January-August, banks issued over VND56 trillion ($2.42 billion) worth of bonds, accounting for half of bond issues, according to stock brokerage Saigon Securities Inc (SSI). 99.6 percent of bank bonds were bought, it added.


No Comments

Post A Comment