Vingroup targets US$500 million from bond issuance in Singapore
Vietnam’s largest private conglomerate Vingroup is planning to seek its shareholders’ approval to raise US$500 million from issuing unsecured bonds on the Singapore Exchange (SGX).
The issuance is expected to be carried out in 2021, depending on market conditions, and approval from competent authorities. The money raised will be used to pay debts, and pump up capital for its business activities.
Over a decade ago, Vingroup’s Vincom JSC debuted on the international debt capital market, with a US$100 million issuance of bonds on the SGX.
In March 2012, following the merge of Vincom and Vinpearl, Vingroup mobilised US$185 million worth of international bonds on the exchange.
Within seven years, Vingroup carried out over 18 transactions in both capital and debt markets, gaining more than US$7.8 billion.
Total asset value of the group reached over VND424.26 trillion (US$18.38 billion) by the end of 2020, 5% higher than the amount recorded on the outset of the year. The group’s revenue topped VND110.46 trillion, falling 15% from the previous year.