Vingroup to issue international bonds in May
vov.vn -
(VOVWORLD) - Vietnam’s largest private economic conglomerate Vingroup is scheduled to issue international bonds worth 525 million USD in the first phase in May 2022. Each bond will have a face value of 1 million USD and will have a five-year maturity, said Vingroup.
 VinFast, an affiliate of Vingroup, has announced an MoU on its factory construction in North Carolina. (Photo: Vinfast) |
Vingroup last year endorsed a decision to issue international bonds worth 1.5 billion USD. Much of the sum will be used to expand VinFast, the group's vehicle division and Vietnam’s first fully-fledged automobile manufacturer.
In early April, VinFast said that its Singapore-based parent company had filed an application for an initial public offering (IPO) with US securities regulators, after the company announced its plan to invested 4 billion USD in an electric vehicle factory in North Carolina.
VinFast, which started operations in 2019, is penetrating the US market, hoping to compete with automakers and startups by launching two electric SUVs and a battery-rental model to reduce unit prices.
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