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
Showing posts with label VIB Bank. Show all posts
Showing posts with label VIB Bank. Show all posts
Friday, July 20, 2007
Tuesday, July 17, 2007
CII issues 500 billion VND worth bonds
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
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
Monday, July 02, 2007
Vietnam International Bank to raise $93 mln in share issue
Partly private Vietnam International Bank (VIB) said on Monday it would raise 1.5 trillion dong ($93 million) in a share issue to expand its business.
The Hanoi-based unlisted bank would issue 150 million new shares, of which 13.6 million would be given as dividend payment to shareholders registered by July 18 and the remaining 136.4 million would be sold in two phases.
In the first phase, VIB would sell 35.4 million shares to existing shareholders and issue one million shares to employees.
The bank would also issue 98 million shares to shareholders and sell two million shares to bank staff by September in the second phase, it said.
The proceeds would go to upgrading VIB's infrastructure, funding lending and investing in joint ventures as well as expanding the brand name, VIB said without detailing each investment.
The bank plans to raise its registered capital to 2.5 trillion dong ($155 million) by the end of 2007 from 1 trillion dong now.
Last year, it won central bank permission to apply to list on Vietnam's stock markets.
But VIB withdrew its application for a listing licence as it decided to boost finances before floating shares in order to raise the bank's value, sources familiar with the plan said.
VIB shares fell to 86,000-88,000 dong ($5.33-$5.45) on the unregulated, unofficial markets late last week after it won a State Securities Commission licence for the share issue on June 25, from 100,000 dong prior to the licence.
The latest prices valued the bank at $540 million.
VIB had assets of 18 trillion dong ($1.12 billion) at the end of March, up 8.7 percent from the end of 2006.
Source: Reuters
The Hanoi-based unlisted bank would issue 150 million new shares, of which 13.6 million would be given as dividend payment to shareholders registered by July 18 and the remaining 136.4 million would be sold in two phases.
In the first phase, VIB would sell 35.4 million shares to existing shareholders and issue one million shares to employees.
The bank would also issue 98 million shares to shareholders and sell two million shares to bank staff by September in the second phase, it said.
The proceeds would go to upgrading VIB's infrastructure, funding lending and investing in joint ventures as well as expanding the brand name, VIB said without detailing each investment.
The bank plans to raise its registered capital to 2.5 trillion dong ($155 million) by the end of 2007 from 1 trillion dong now.
Last year, it won central bank permission to apply to list on Vietnam's stock markets.
But VIB withdrew its application for a listing licence as it decided to boost finances before floating shares in order to raise the bank's value, sources familiar with the plan said.
VIB shares fell to 86,000-88,000 dong ($5.33-$5.45) on the unregulated, unofficial markets late last week after it won a State Securities Commission licence for the share issue on June 25, from 100,000 dong prior to the licence.
The latest prices valued the bank at $540 million.
VIB had assets of 18 trillion dong ($1.12 billion) at the end of March, up 8.7 percent from the end of 2006.
Source: Reuters
Friday, June 15, 2007
VIB Bank, PetroVietnam Insurance sign accord
VIB Bank and PetroVietnam Insurance (PVI) on June 11 signed a comprehensive cooperation agreement in Ha Noi.
As per the accord , the two sides will increase their market competitiveness and diversity by using each other’s strengths in specific areas, said Han Ngoc Vu, general director of VIB Bank.
The bank will provide new credit services for PVI and its clients with preferential interest rates. The services include short, medium and long-term loans, guarantees and international payments, he said.
”The comprehensive cooperation will not only help the two sides tap their partners’ strong points, but also boost their exchange of knowledge and experience on financial professionalism,” said Vu.
PVI will in turn offer an insurance programme and risky management services at a competitive cost for clients borrowing capital from VIB Bank or related projects, said Le Van Hung, chairman of PVI’s board of directors.
In addition, the two sides will jointly develop and promote cash transfer services via their networks and develop capital sources, including derivative products like options rights and swaps, Hung said.
The two sides will share investment opportunities on energy projects such as power plants, oil exploration and the development of machinery for the oil industry as well, Hung added.
Other investment projects like urban construction, trade, industrial, export or processing zones and real estate will also be shared by the two sides.
VIB Bank and PVI also signed a deposit contract worth 50 billion VND (3.1 million USD) the same day.
The bank currently has a charter capital of more than 1 trillion VND (62.5 million USD) and plans to increase that number to 2.5 trillion VND (156 million USD) by the end of this year, Hung said.
PVI is a member of the Viet Nam National Oil and Gas Group. As of June 10, PVI recorded a turnover of 1 billion VND (62,500 USD) or 65 percent of its yearly plan.
Source: VNA
As per the accord , the two sides will increase their market competitiveness and diversity by using each other’s strengths in specific areas, said Han Ngoc Vu, general director of VIB Bank.
The bank will provide new credit services for PVI and its clients with preferential interest rates. The services include short, medium and long-term loans, guarantees and international payments, he said.
”The comprehensive cooperation will not only help the two sides tap their partners’ strong points, but also boost their exchange of knowledge and experience on financial professionalism,” said Vu.
PVI will in turn offer an insurance programme and risky management services at a competitive cost for clients borrowing capital from VIB Bank or related projects, said Le Van Hung, chairman of PVI’s board of directors.
In addition, the two sides will jointly develop and promote cash transfer services via their networks and develop capital sources, including derivative products like options rights and swaps, Hung said.
The two sides will share investment opportunities on energy projects such as power plants, oil exploration and the development of machinery for the oil industry as well, Hung added.
Other investment projects like urban construction, trade, industrial, export or processing zones and real estate will also be shared by the two sides.
VIB Bank and PVI also signed a deposit contract worth 50 billion VND (3.1 million USD) the same day.
The bank currently has a charter capital of more than 1 trillion VND (62.5 million USD) and plans to increase that number to 2.5 trillion VND (156 million USD) by the end of this year, Hung said.
PVI is a member of the Viet Nam National Oil and Gas Group. As of June 10, PVI recorded a turnover of 1 billion VND (62,500 USD) or 65 percent of its yearly plan.
Source: VNA
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