Vietnam's Sacombank plans $200 mln dollar bond

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Vietnam's Sacombank planned to raise $200 million via a dollar bond on overseas markets and proceeds would go to its banking business, the lender said in a statement.

The Ho Chi Minh City-based bank would issue the five-year bond in the second or the third quarter of this year, subject to shareholder approval at a meeting on May 26, the bank said.

Sacombank said it would list the bond on the Singapore stock exchange.

The bond issue would follow VietinBank, Vietnam's largest partly private lender by assets, which became the first bank to have issued a dollar bond on overseas markets this year, raising $250 million at an annual coupon of 8 percent.

Sacombank shares closed up 1.65 percent at VND24,600 ($1.18) each on Tuesday.

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