Central Bank approves BIDV bond issue of $900 million

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The State Bank of Vietnam (SBV) recently permitted the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to issue VND20 trillion (US$893 million) worth of bonds in 2017.

The State Bank of Vietnam (SBV) recently permitted the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to issue VND20 trillion (US$893 million) worth of bonds in 2017. — Photo vietnamfinance.vn

The State Bank of Vietnam (SBV) recently permitted the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to issue VND20 trillion (US$893 million) worth of bonds in 2017.

BIDV’s targeted demography includes both domestic and foreign organisations and individuals. Credit organisations, their subsidiary companies and foreign bank branches are not allowed to buy these bonds on the primary market.

The yields will be decided by BIDV in accordance with market interest rates and the current set of bond yields regulations as dictated by the SBV.

BIDV repurchased its shares in 2017 based on strict safety requirements, excluding tier two capital bonds, which require a different set of regulated legal documents. — VNS

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