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Vietnam successfully issued $ 1 billion in international bonds

Vietnam has successfully issued $ 1 billion in international bonds with a fixed interest 
rate of 4.8% / year ...

The Finance Ministry said it is studying and reporting capabilities Government released in the future to continue to actively restructure existing debt portfolio.

The Ministry of Finance has announced, Vietnam has successfully issued $ 1 billion in international bonds with a fixed interest rate of 4.8% / year, lower than expected is 5.125% / year.

This is the low yield Most of the issue to date, respectively, 6.875% / year and 6.755 / year for bonds issued in 2005 and 2010. The total value of bonds subscribed by the Government from 437 investors nationwide on the fact that 10.6 billion, more than 10 times the amount offered, of which 17% investors in Asia, 28% investors in Europe and 55% in the US investors.   If distribution by type of investor, with 84% of the investment is the investment fund management company, 12% of investors are banks and investors is 4% of insurance companies and pension funds. bond offering, this time coincided with swaps two government bonds were issued to international capital markets prior to maturity in 2016 and 2020. Accordingly, the total par value of log Register swap bonds issued accepted the acquisition is $ 726,626,000, of which $ 436,452,000 acquisition of bonds issued in 2005 and $ 290,174,000 of bonds issued in 2010. The bank is Deutsche Bank, HSBC, and Standard Chartered Bank plays an advisory role to guarantee the issuance of bonds and swaps / acquisition of the old bonds. According to the Ministry of Finance, the success of the bond issuance in 2014 was represented by two reasons. First, yields release only 4.8% / year, lower than expected initial offering is 5.125% / year, which saves about 32.5 million dollars in interest payments of government bonds (in 10 years). Second, the swap was 54.4% of the original value of international bonds in 2005 and 25.4% of the original value of international bonds in 2010 with a total benefits after the swap was 13.9 million. This contributes to the restructuring of public debt in the direction of extending the loan term and reduce the pressure on debt repayment obligations in line with the direction of the Government. The Ministry of Finance said that studying and reporting capabilities Government released in the future to continue to actively restructure existing debt portfolio.   Previously, Fitch credit rating upgrade national Vietnam a step (from B + to BB-) and Moody (from B2 to B1). The success of the issuance of government bonds to international capital markets once helped set the benchmark interest rate is much lower than before.  

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