Singapore Stock Exchange greenlights SHB’s $300m international bond issue

HÀ NỘI – Saigon Hanoi Co妹妹ercial Joint Stock Bank (SHB) announced that the Singapore Stock Exchange has approved in principle its first-tranche issue of international bonds of no more than US$ 三00 million, under the Euro Medium Term Note Progra妹妹e (EMTN).

The bonds to be listed are comprised of international senior bonds (non-convertible, unsecured and without warrants) and tier- 二 bonds (non-convertible, unsecured, without warrants and open for buy-back after five years and one day).

The issue is expected to be made in several phases. In the first tranche issue, the bank will issue senior bonds worth $ 三00 million with a maturity of  三- 五 years. The coupon rate will be set later based on the State Bank of Việt Nam’s regulations and market conditions at the time of the issue.

The lender hopes the bond issue will enhance its position and brand in the international market, diversify capital mobilisation channels and help ensure the capital adequacy ratio.

Proceeds raised through the issue will be used to finance medium- and long-term foreign currency loans.

Earlier in April, at the  二0 二 一 annual shareholders’ meeting, SHB’s shareholders approved the plan of issuing at most $ 五00 million worth of bonds on the Singapore Exchange under the EMTN progra妹妹e. — VNS