The Vietnam’s Asia Commercial Joint Stock Bank (ACB) on Monday announced a plan to issue US$96.6 million worth of non-convertible bonds by the end of 2018.
The to-be-issued 2,200 bonds would mark the bank’s second issuance round this year. VNS reports.
The bonds will mature in 10 years with face value of VND1 billion per bond, the bank said in a statement on Monday.
Bond yield will be paid every year from the issuance date.
ACB expects the upcoming bond issuance to help raise charter capital so it can meet demand for medium- and long-term loans.
The first bond issuance round took place on November 12 and ACB issued US$96.6 million (VND2.2 trillion) worth of non-convertible bonds, which will mature in three years with an annual yield rate of 6 per cent.
ACB is listing more than 1.12 billion shares, 90 per cent of its total outstanding shares, on the Hanoi Stock Exchange with code ACB.
ACB shares lost 2.6% on Monday to close at VND29,600 per share.