Vingroup raises over $132 million through bonds

By N. Khanh, Thanh Nien News

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Vinhomes Times City in Hanoi, one of Vingroup's projects Vinhomes Times City in Hanoi, one of Vingroup's projects


Vingroup, Vietnam's biggest listed real estate company, announced on Tuesday that it has successfully sold VND3 trillion (US$132.68 million) worth of corporate bonds.
The bonds were issued domestically with maturities of five and 10 years, and respected coupon rates of 7.75 percent and 8.5 percent.
The conglomerate, whose market capitalization was estimated at $3.7 billion as of January 31, said the fresh money will help it make "flexible" investments in its "long-term business sectors."
Vingroup has been aggressively expanding in retail and healthcare sectors, with a headline-grabbing acquisition of Vietnam's oldest supermarket chain Maximark in October last year.
It has also started making its foray into overseas market with a $22-million deal to buy a lot of land in the central business district of Sydney as reported by the Australian media last week.
Vingroup reportedly plans to develop a 172-room hotel complex there on an area of 1,030 square meters.

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