VN to offer bonds worth of US$ 1 bil.

VGP – The State Bank of Việt Nam revealed that the Ministry of Finance (MoF) and Việt Nam’s other relevatn agencies will introduce the offering of international bonds, worth of US $1 billion, in Hong Kong and London (January 19), Boston (January 20) and New York (January 21).

January 19, 2010 6:24 PM GMT+7

Governmental bonds are offered to raise capital for power projects

The Government assigned the MOF to decide term and value of these bonds with the maximum interest rate of 7% per year over 10 years.

The mobilized capital will be used as loans for projects such as the Dung Quất Oil Refinery and other hydroelectricity factories.

Three banks, including Barclays Capital, Citigroup Inc. and Deutsche Bank AG, will consult and carry out the transactions.

It is the second time Việt Nam sells bonds in international markets. In October 2005, Việt Nam successfully issued governmental bonds overseas and mobilized US $750 million.

By Thùy Dung