Hoang Huy Investment Financial Services JSC (TCH) on Thursday issued VND1.2 trillion (US$50 million) worth of convertible corporate bonds to South Korean investors.

The South Korean investors were Shinhan Investment, CoreTrend Investment and ValueSystem Optimus Protect Private Investment Fund. TCH’s corporate bond issuance was announced early last week.

The convertible corporate bonds will mature in three years and the yield rate is 7 per cent per annum.

Signing agreements with three South Korean investors made TCH the first company to raise capital through corporate bond issuance this year.

According to the Vietnamese company, the capital raised from South Korean investors would help it develop large-scale real estate projects such as Golden Land in Ha Noi and Hoang Huy Riverside, Hoang Huy Mall and Pruksa Town in Hai Phong.

Early this week, TCH announced it would develop a VND2 trillion real estate project in Hai Phong’s Le Chan District with 70 per cent of the capital being funded by external investors.

TCH is listing on the Ho Chi Minh Stock Exchange with code TCH. The firm’s shares fell 1.2 per cent to close Friday at VND24,100 ($1.03) per share. — VNS