A design team from Bakh Architecture. — VNS Photo Courtesy of BCG

Bamboo Capital Joint Stock Company has successfully issued corporate bonds worth nearly VND113 billion (US$4.97 million) to three major Korean companies: Chosun Refractories, Daewon, and Woomi Construction.

BCG, which develops real estate projects in HCM City, Quang Nam, and Da Nang, approached foreign investors, especially Korean corporations, interested in the Vietnamese market.

After several meetings the three Korean firms agreed to buy nearly VND113 billion worth of bonds issued by BCG at a coupon rate of 6 per cent for a three-year tenor.

The money raised will be used to fund property projects.

BCG’s real estate projects in Quang Nam and Da Nang will start in early 2018 and be completed in around 18 months.

BCG has worked with international firm Bakh Architecture for the projects’ master plan.

Established in 1947, Chosun Refractories manufactures refractory products and exports them to many markets, including the UK, Italy, India, the US, Canada, and Mexico.

Daewon is one of the leading companies in textiles and real estate. Woomi Construction provides real estate development, construction, demolition, and civil engineering services.

BCG is an investment company with interests in production and trading of agricultural products, infrastructure and other real estate development and renewable energy — VNS