Techcom Securities arranges $81.91 million bonds for Vingroup

Monday, Jun 08, 2015 17:20

Techcom Securities Company Limited, a subsidiary of commercial Techcombank, provides securities brokerage and related services. — VNS Photo

HA NOI ( Biz Hub) — Techcom Securities Company Limited announced it has arranged the issuance of VND2 trillion (US$81.91 million) corporate bonds for Vingroup in June.

The Ha Noi-based securities company said its investors included commercial banks and securities companies, adding that the bonds were non-convertible and unsecured and were backed by a guarantee of Royal City Real Estate Development and Investment Joint Stock Company – a subsidiary of Vingroup.

Techcom Securities noted that the bond's annual coupon payment will be made on a fixed rate for the first coupon payment and on a floating rate for the remaining coupon payment.

The two year bonds, each with a par value of VND100,000 ($4.5), were issued on June 2, 2015, and will be listed on the HCM City Stock Exchange within two to three months and, upon listing, will be settled via Vietnam Securities Depository.— VNS

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