The State Bank of Vietnam revealed that the Ministry of Finance (MoF) and Vietnam’s other relevatn agencies will introduce the offering of international bonds, worth of US $1 billion, in Hong Kong and London (January 19), Boston (January 20) and New York (January 21).
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Governmental bonds are offered to raise capital for power projects
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The Government assigned the MOF to decide term and value of these bonds with the maximum interest rate of 7% per year over 10 years.
The mobilized capital will be used as loans for projects such as the Dung Quat Oil Refinery and other hydroelectricity factories.
Three banks, including Barclays Capital, Citigroup Inc. and Deutsche Bank AG, will consult and carry out the transactions.
It is the second time Vietnam sells bonds in international markets. In October 2005, Vietnam successfully issued governmental bonds overseas and mobilized US $750 million./.