ACB to issue 94.4 million USD in unconvertible bonds
The Asian Commercial Joint Stock Bank (ACB) has announced a plan to issue 2.2 trillion VND (94.4 million USD) worth of non-convertible bonds by the end of 2018.
The Asian Commercial Joint Stock Bank (ACB) plans to issue 2.2 trillion VND (94.4 million USD) worth of non-convertible bonds by the end of 2018. (Photo: ACB)
Hanoi (VNA) - The Asian CommercialJoint Stock Bank (ACB) has announced a plan to issue 2.2 trillion VND (94.4 millionUSD) worth of non-convertible bonds by the end of 2018.
The 2,200 bonds would mark the bank’s secondissuance round this year.
The bonds will mature in 10 years with facevalue of 1 billion VND per bond, the bank said in a statement, adding that bondyield will be paid every year from the issuance date.
The bank expects the upcoming bond issuance tohelp raise its chartered capital so it can meet demand for medium- andlong-term loans.
The first bond issuance round took place onNovember 12 and ACB issued 2.2 trillion VND worth of non-convertible bonds,which will mature in three years with an annual yield rate of 6 percent.
ACB is listing more than 1.12 billion shares, 90percent of its total outstanding shares, on the Hanoi Stock Exchange with codeACB.-VNA
The Hanoi Stock Exchange (HNX) raised 2.3 trillion VND (over 98.7 million USD) at the latest auction of Government bonds (G-bonds) issued by the State Treasury on August 1.
The State Treasury of Vietnam raised an additional 3.8 trillion VND (163.4 million USD) by auctioning off Government bonds at the Hanoi Stock Exchange (HNX) on September 26.
The State Treasury of Vietnam raised nearly 700 billion VND (29.9 million USD) from Government bonds (G-bond) in an auction at the Hanoi Stock Exchange (HNX) on October 31.
Many banks have issued a large amount of bonds to raise capital in a move to meet high demand during year-end’s peak lending season and prepare to meet the State Bank of Vietnam (SBV)’s regulations on tightening the use of short-term funds for long-term loans from early next year.
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The Asian Commercial Joint Stock Bank (ACB) plans to issue 2.2 trillion VND (94.4 million USD) worth of non-convertible bonds by the end of 2018. (Photo: ACB) 
