Mobile World raises 50 million USD in first bond issuance
Top Vietnamese mobile phone retailer Mobile World Group (MWG) completed its first corporate bond issuance, worth a total of 1.135 trillion VND, or about 50 million USD, on November 21.
A store of the Mobile World Group (Photo: baotintuc.vn)
HCM City (VNA) – Top Vietnamesemobile phone retailer Mobile World Group (MWG) completed its first corporatebond issuance, worth a total of 1.135 trillion VND, or about 50 million USD, onNovember 21.
The notes, due in 2022, will bear interestat a fixed rate of 6.55 percent yearly. They are guaranteed by the CreditGuarantee and Investment Facility (CGIF), a trust fund founded by ASEAN 3, groupingten ASEAN nations, China, Japan and the Republic of Korea.
“We are excited to collaborate with CGIF onour first bond issue. This transaction demonstrates the positive development ofthe local bond market, with participation from reputable and well-recognisedinvestors at an attractive fixed interest rate. This enables us to finance ourmerger and acquisition activities,” said MWG Chairman Nguyen Duc Tai.
It represents the third VietnamDong-denominated corporate bond issuance guaranteed by the CGIF and was placedby Standard Chartered Bank, acting as the placement agent.
MWG has threemajor brands – The Gioi Di Dong, Dien May Xanh and Bach Hoa Xanh – with morethan 1,520 retail stores nationwide. Last year, it earned about 2 billion USDin net revenue, a year-on-year surge of 76.7 per cent. -VNA
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A store of the Mobile World Group (Photo: baotintuc.vn)
