Vietnam builder to sell $700 mln dollar bonds: report

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A Vietnamese bridge and road building company will sell $700 million worth of dollar bonds in international markets to raise funds for transport projects, a state-run newspaper reported on Wednesday.

Phu My Bridge BOT Joint Stock Co, based in Ho Chi Minh City, has secured government approval for the bond issue, Deputy Chief Executive Mac Dang Nop was quoted by the Labour Confederation-run Lao Dong newspaper as saying.

He gave no further details of the issue.

Several other companies have announced plans for overseas bonds but so far no Vietnamese firm has issued debt abroad.

Proceeds from the bonds would go to construction of major transport projects in Ho Chi Minh City, Vietnam's commercial centre, the report said.

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