Seven institutional investors including two banks have snapped up the 7-year corporate bonds worth 500 billion dong ($31 million) issued by an investment firm in Ho Chi Minh City, underwriters of the debt said on Friday.
Ho Chi Minh City Infrastructure Investment Co. (CII) sold the July 2014 bonds at an annual coupon of 10.3 percent, underwriters Vietnam International Bank and Vietnam International Securities Company said in a statement.
CII has said it will use proceeds from the issue to finance water supply and bridge construction projects in the city. It did not say if the bonds would be listed on Vietnam's stock market.
Shares in CII were trading down 2.86 percent at 68,000 dong ($4.2) by 0227 GMT on Friday, valuing the firm at around $126 million.
State-run Vietindebank and Saigon Securities (SSI) each bought 100 billion dong worth of the debt.
Other investors included Baoviet Securities (BVS), Prudential Balanced Fund (PRUBF1), Prudential Vietnam Assurance Private Ltd., Hong Kong-based PCA International Funds SPC and unlisted Military Bank that is run by Vietnam's army.
CII invests in urban projects such as roads, bridges, and residential areas. It also provides consultation on financial investment and collects road tolls.
Source: Reuters
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