Vietnam's second largest bank by assets, Bank for Investment and Development (BIDV, Vietindebank), said on Thursday it would sell 3 trillion dong ($186 million) of 5-year bonds on domestic markets from next week.
The July 23, 2012 bond would carry an annual coupon of 8.15 percent, the Hanoi-based bank said in a statement.
Vietindebank said the bonds would be sold to domestic and foreign institutions "to raise long-term funds and meet the funding demand in business activities".
Vietindebank Chief Executive Tran Bac Ha said last week the lender, national carrier Vietnam Airlines, state oil group Petrovietnam and Vietnam Posts and Telecommunications group would form a share-holding firm to lease aircraft.
Pending government approval, the firm would buy four of Boeing Co.'s new 787 planes to lease to domestic airlines with the first delivery in 2015, when the new company would be fully operational.
The aircraft purchase would be worth as much as $800 million at list prices.
Vietindebank has hired U.S. investment bank Morgan Stanley as an adviser on its IPO. It plans to list overseas following its domestic flotation in the first quarter of 2008.
Vietindebank and four other state-run banks have been ordered to partially privatise this year and in 2008, a move seen as a test of Vietnam's commitments on joining the World Trade Organisation to open its markets.
Source: Reuters
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