Mobile World raises US$50 million in first bond issuance

Top Vietnamese mobile phone retailer Mobile World Group (MWG) completed its first corporate bond issuance, worth a total of VND1.135 trillion, or about US$50 million, on November 21.

The notes, due in 2022, will bear interest at a fixed rate of 6.55% yearly. They are guaranteed by the Credit Guarantee and Investment Facility (CGIF), a trust fund founded by ASEAN 3, grouping ten ASEAN nations, China, Japan and the Republic of Korea.

mobile world raises us$50 million in first bond issuance hinh 0
A store of the Mobile World Group (Photo: baotintuc.vn)

“We are excited to collaborate with CGIF on our first bond issue. This transaction demonstrates the positive development of the local bond market, with participation from reputable and well-recognised investors at an attractive fixed interest rate. This enables us to finance our merger and acquisition activities,” said MWG Chairman Nguyen Duc Tai.

It represents the third Vietnam Dong-denominated corporate bond issuance guaranteed by the CGIF and was placed by Standard Chartered Bank, acting as the placement agent. 

MWG has three major brands – The Gioi Di Dong, Dien May Xanh and Bach Hoa Xanh – with more than 1,520 retail stores nationwide. Last year, it earned about US$2 billion in net revenue, a year-on-year surge of 76.7%.

VNA

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