MWG raises $50m in first bond issuance

Nov 25th at 21:14
25-11-2017 21:14:11+07:00

MWG raises $50m in first bond issuance

Top Vietnamese mobile phone retailer Mobile World Group (MWG) completed its first corporate bond issuance, worth a total of VND1.1 trillion (US$50 million), on November 21.

 

The notes, due in 2022, will bear interest at a fixed rate of 6.55 per cent yearly. They are guaranteed by the Credit Guarantee and Investment Facility (CGIF), a trust fund founded by ASEAN 3, grouping 10 ASEAN nations, China, Japan and the Republic of Korea.

“We are excited to collaborate with CGIF on our first bond issue. This transaction demonstrates the positive development of the local bond market, with participation from reputable and well-recognised investors at an attractive fixed interest rate. This enables us to finance our merger and acquisition activities,” MWG Chairman Nguyen Duc Tai said.

It represents the third Viet Nam dong-denominated corporate bond issuance guaranteed by the CGIF and was placed by Standard Chartered Bank, acting as the placement agent.

MWG has three major brands – The Gioi Di Dong, Dien May Xanh and Bach Hoa Xanh – with more than 1,520 retail stores nationwide. Last year, it earned some $2 billion in net revenue, a year-on-year surge of 76.7 per cent.

bizhub



NEWS SAME CATEGORY

Hiep Phuoc IP to raise capital to $44.4 million

Hiep Phuoc Industrial Park Joint Stock Company (HPI) plans to sell shares to existing shareholders to raise its charter capital to VND1 trillion (US$44.4 million)...

SAB to entice investors in Singapore, London

Sai Gon Beer – Alcohol – Beverage Corporation, better known as Sabeco, will hold roadshows in two major financial markets – Singapore and London – in an effort to...

SSI only securities company among 2016’s 100 largest taxpayers

Saigon Securities Inc (SSI) is the only securities company among the top 100 leading corporate taxpayers in 2016.

SBT announces name change

The Thanh Thanh Cong Sugar Joint Stock Company (TTCS), stock code SBT, held its 2016 – 2017 annual shareholders’ meeting on Monday, the first since its merger...

PLX stocks fall with sinking performance

Vietnam National Petroleum Group (Petrolimex, coded PLX), has witnessed a sharp drop in share prices after a vast wave of investors started selling its stocks and...

Jardine Cycle & Carriage forks out $1 billion for VNM stake

The largest automotive group from Singapore, Jardine Cycle & Carriage Limited Company (JC&C), has announced that its wholly-owned subsidiary Platinum Victory Pte....

Tran Anh reveals larger loss before MWG merger

On the verge of a merger with Mobile World Investment Corporation (MWG), Tran Anh Digital World JSC (Tran Anh Digital) revealed a net loss of VND11.8 billion...

Sao Ta Foods becomes Ben Tre Aquaproduct affiliate

Ben Tre Aquaproduct Import and Export JSC (ABT) has completed the purchase of nearly 7.84 million shares, equal to 20.1 per cent of voting rights in Sao Ta Foods...

SCIC to sell 21.79% stake at VCG

The State Capital Investment Corporation (SCIC) will sell 21.79 per cent stake at Viet Nam Construction and Import-Export Joint Stock Corporation (Vinaconex) on...

Firms dole out cash dividends on high profits

Many listed companies have decided to loosen their purse-strings by paying cash dividend for stockholders, after reporting upbeat business results.


MOST READ


Back To Top