ACB to issue US$94.4 million in unconvertible bonds

The Asian Commercial Joint Stock Bank (ACB) has announced a plan to issue VND2.2 trillion (US$94.4 million) worth of non-convertible bonds by the end of 2018.

acb to issue us$94.4 million in unconvertible bonds hinh 0

The 2,200 bonds would mark the bank’s second issuance round this year.

The bonds will mature in 10 years with face value of VND1 billion per bond, the bank said in a statement, adding that bond yield will be paid every year from the issuance date.

The bank expects the upcoming bond issuance to help raise its chartered capital so it can meet demand for medium- and long-term loans.

The first bond issuance round took place on November 12 and ACB issued VND2.2 trillion worth of non-convertible bonds, which will mature in three years with an annual yield rate of 6%.

ACB is listing more than 1.12 billion shares, 90% of its total outstanding shares, on the Hanoi Stock Exchange with code ACB.