Ho Chi Minh City Infrastructure Investment Co. (CII) will sell 7-year bonds worth 500 trillion dong ($31 million) next week to help finance water supply and bridge construction projects, state media said on Thursday.
The bonds would carry an annual coupon of 10.3 percent, the Vietnam Economic Times newspaper said, and the partly private Vietnam International Bank and Vietnam International Securities Co. would underwrite the issue.
The proceeds would help finance the $108-million Phu My bridge, a Kenh Dong water supply project costing $74.4 million and the $93-million Thu Duc Water Treatment Plant.
CII did not say if it planned to list the bonds on Vietnam's stock market.
Shares in the firm had risen 2,000 dong to 64,000 dong ($3.97) at 0137 GMT on Thursday, valuing CII at $119 million.
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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