Bonds worth 500 billion VND of the Ho Chi Minh City Infrastructure Investment joint stock company (CII) have been issued under the guarantee of the Viet Nam International (VIB) bank and its securities company, VISecurities, the bank announced on July 16.
The 7-year bonds have a face value of 100,000 VND each and bear an interest rate of 10.3 percent. They were officially released on July 9 in book-entry form and have sold out.
Money collected from bond issuance will be invested into infrastructure projects, such as the high-rise building at 70 Lu Gia, Tan An Hoi residential area and Tam Tan resettlement residential area, according to a CII representative. This is the first time VIB Bank has acted as a guarantor for bond issuance by a joint stock company. Last year, the bank successfully guaranteed 600 billion VND bonds issued by the Electricity of Viet Nam.
Source: VNA
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