Budget carrier Vietjet plans $84.5 mln bond issuance
Vietnamese private carrier Vietjet Air has approved a plan to issue VND2 trillion ($84.5 million) worth of corporate bonds in order to meet operating costs.
The five-year non-convertible bonds without collateral will have a par value of VND100 million ($4,300) each. The timeline for the issuance was not announced.
Vietjet said the bonds will be issued in the form of bookkeeping, through an issuing agent.

A Vietjet aircraft. Photo courtesy of Vietnam News Agency.
The maximum fixed interest rate is 12% per year for the first two interest periods. For the remaining periods, it will be a maximum 3.5% plus the reference interest rate.
The bonds can be redeemed 12 months from the time of issuance or in accordance with current laws.
The budget carrier recorded an after-tax profit of nearly VND173 billion ($7.37 million) in the first quarter of 2023, down 29% year-on-year, while national flag carrier Vietnam Airlines posted a loss of VND37.3 billion ($1.59 million).
It earned Q1 net revenues of VND12.9 trillion ($549.67 million), up 2.8 times year-on-year, according to the carrier's financial statement.
In Q1, Vietjet operated 31,300 flights, transporting nearly 5.4 million passengers, up 57% and 75% year-on-year, respectively. The flights had an average seat occupancy rate of 85%.
The total volume of goods transported by Vietjet in the quarter topped 14,800 tons, up 20% over the same period in 2022.
International passenger transport continued to be a bright spot, contributing nearly 45% of total passenger transport revenue and accounting for 30% of the number of flights and passengers.
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