Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

VIETNAM
Bond Issue/Capital Market
July 23, 2007

Three foreign banks picked for $1 bln bond
Vietnam has selected Barclays, Citigroup Inc. and Deutsche Bank AG to manage a $1 billion dollar bond issue, the country's second sovereign issue, Reuters quoted financial sources as saying on July 23.

Vietnam aims to list the bonds on the Singapore stock market. The Finance Ministry has not fixed a precise sales date, a government source said.

"We have selected the three banks for the issue which is scheduled before end of September," another source close to the project said.

"We aim for the bonds to be traded on the Singapore stock market to raise the attractiveness of the bonds," the source said.

The Singapore stock exchange (SGX) said it has sovereign bonds listed on the market.

"SGX does allow sovereign bond listings. We do have a number on SGX already," a spokeswoman said.

Earlier this year, the finance ministry had said it would sell a 15-year to 20-year bond.

"We aim for the bonds to be traded on the Singapore stock market to raise the attractiveness of the bonds," the source said.

The Singapore stock exchange (SGX) said it has sovereign bonds listed on the market.

"SGX does allow sovereign bond listings. We do have a number on SGX already," a spokeswoman said.

Earlier this year, the finance ministry had said it would sell a 15-year to 20-year bond.

Vietnam's prime minister, Nguyen Tan Dung, said in June that proceeds from the bond would be used to help pay the US$2.5 billion price tag for Vietnam's first oil refinery and to build two key hydro power plants.

Moody's sovereign rating for Vietnam is Ba3, Standard and Poor's is BB+ and Fitch's is BB.

State oil-and-gas group Petrovietnam has said it plans to issue more than $500 million in overseas bonds next year to help fund a second oil refinery. Reuters

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com