Vingroup to issue $133 mln bonds to restructure debt
Vingroup JSC (HoSE: VIC), Vietnam’s top private conglomerate, will issue VND3.5 trillion ($132.5 million) worth of bonds to restructure debt.
According to its filing to the State Securities Commission and the country’s two stock exchanges, the bonds, with a par value of VND100 million ($3,790) each, will carry a maximum term of 24 months.
The Vu Yen urban project, developed by Vinhomes in Hai Phong city, northern Vietnam. Photo courtesy of Vingroup's arm Vinhomes.
The bonds are non-convertible, non-warranted, and secured by assets owned by Vingroup or third parties.
The issue will be offered to professional investors as defined under Vietnamese law, with the exact issuance date to be disclosed in the offering prospectus and subsequent notices, the company said.
Earlier, Vingroup approved a VND2.5 trillion ($94.7 million) bond issue plan, also aimed at debt restructuring.
Vingroup, controlled by billionaire Pham Nhat Vuong, has been actively raising capital to strengthen its balance sheet as it continues to expand in property, retail, healthcare, and its fast-growing EV arm VinFast.
Recently, Vuong, chairman of Vingroup, transferred part of VIC shares he owns to newly-founded companies VinEnergo and VinSpeed, where he holds controlling stakes.
Vuong transferred more than 70.6 million VIC shares to VinEnergo, an energy firm established in March.
Meanwhile, his transfer of nearly 87.6 million VIC shares to infrastructure developer VinSpeed is scheduled to take place between June 24 and July 23, 2025. The shares represent 2.26% of Vingroup’s charter capital.
VIC shares closed down 2.8% to VND170,000 ($6.44) each on Wednesday.
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