By Abigail W. Adams
Portland, Me., Nov. 10 – Vingroup JSC will issue $250 million of 10% five-year bonds exchangeable for subsidiary Vinhomes shares on Monday, according to a listing announcement with the Singapore Exchange.
The Regulation S offering will begin to trade on the Singapore Exchange starting on Tuesday.
Proceeds will be used to repurchase the company’s 3% senior notes due 2026.
Vingroup is a Hanoi-based technology, real estate, retail and services company.
Vinhomes is Vingroup’s real estate development arm.
| Issuer: | Vingroup JSC
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| Amount: | $250 million
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| Issue: | Exchangeable bonds for Vinhomes shares
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| Maturity: | 2028
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| Coupon: | 10%
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| Announcement date: | Nov. 10
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| Settlement date: | Nov. 13
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| Distribution: | Regulation S
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| Stock symbol: | VN: VHM
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| Market capitalization: | VND 184.19 trillion
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