Vingroup submits $325 mln overseas bond issuance application to Vietnam's market watchdog

Vietnam's State Securities Commission (SSC) said it had received a dossier from Vingroup (HoSE: VIC) for offering bonds worth $325 million to the international market.

The conglomerate plans to issue up to 1,625 bonds, with a par value of $200,000 apiece, a five-year term, and a yield of 5.5% per year.

The bonds will be non-convertible, non-warranted, and unsecured, and represent the direct repayment obligation of the issuer. They feature the right to receive shares of Vinpearl (HoSE: VPL) owned by Vingroup.

The issuance, denominated in U.S. dollars, is scheduled for Q4/2025, subject to regulatory approval.

The bonds will be isssued and listed on the Vienna Stock Exchange (Vienna MTF) in Austria, and will not be offered or listed in Vietnam.

VinMetal sees an extra $189.7 million in capital

Vingroup's steel company VinMetal has seen its capital raised by VND5 trillion ($189.7 million) to VND15 trillion ($569 million), after only one month of establishment.

VinMetal Joint Stock Company for Manufacturing and Trading announced the information in its business registration change document dated November 13. Shareholders already contributed VND15 trillion in cash to this company.

The firm has surpassed many of its peers in Vietnam in terms capital, such as Hoa Sen, Nam Kim, and VNSteel, but the figure is still lower than Hoa Phat and Formosa Ha Tinh.

The new company aims to meet the internal material needs of Vingroup's ecosystem while contributing to the development of Vietnam's heavy industry, Vingroup said in a press release in October.

Venturing into senior healthcare

On October 17, Vingroup announced its participation in the establishment of Vin New Horizon JSC, with a charter capital of VND1,000 billion ($37.96 million). The group will hold a 65% stake in the company, which will focus on investment and management of senior healthcare and wellness centers.

Energy, infrastructure as new pillars

Vingroup plans many renewable and LNG-fueld power projects via VinEnergo and infrastructure projects via VinSpeed.

In mid May, VinSpeed announced its registration to invest in Vietnam’s North-South high-speed railway project. The behemonth project will have an estimated investment of VND1,562 trillion ($60.24 billion), excluding costs related to compensation, relocation support, and resettlement for land clearance. It is scheduled for completion by 2030.

The company also plans to start construction on a high-speed rail project linking downtown Ho Chi Minh City with the outlying former Can Gio district this month, with completion expected 30 months later.

VinSpeed proposed building a VND138.9 trillion ($5.28 billion) railway connecting Hanoi with Quang Ninh - home to the the UNESCO world heritage site Ha Long Bay, with trains designed to run at speeds of up to 350 km per hour.

On September 26, the group commenced construction on the Hai Phong LNG-to-power plant, the largest of its kind in Vietnam, in Hai Phong.

The conglomerate also proposed a VND373,841 billion ($14.19 billion) port and logistics center project in this city, which will be the largest project of its kind in Vietnam.

Vingroup is a leading real estate developer in Vietnam. Subsidiary VinFast owns two electric vehicle plants in Hai Phong city and Ha Tinh province. The conglomerate's operations also involve medical care, education, and technology-AI research, among others.

On the Ho Chi Minh Stock Exchange, VIC shares closed Thursday at VND211,000 ($8) apiece.