First local bank issues int'l bonds

 

This is Vietnam’s first financial institution that has issued international bonds.

Vietinbank’s bonds are expected to be rated “B1” by Moody’s and “B+” by S&P.

A Vietinbank official said investors from Hong Kong, Singapore, the UK, Germany, France, and the US have purchased the bonds.

In the context of the difficult world economy, the successful transaction reflects foreign investors' confidence in Vietnam’s prestigious banks and is expected to open up opportunities for other businesses, he said.

On the sideline of the bank’s 2012 annual shareholders’ meeting, Vietinbank CEO Pham Huy Hung said it plans to issue US$500 million worth of international bonds this year.

(VOV)