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Da Nang to issue VND1,100 billion bonds

Oct 3rd at 14:25
03-10-2014 14:25:59+07:00

Da Nang to issue VND1,100 billion bonds

Da Nang municipal authorities plan to raise VND1,100 billion (US$52.3 million) by issuing bonds this year for key infrastructure projects in the city.

The announcement was made at a conference on local authority bonds held last Wednesday by the Ha Noi Stock Exchange and Da Nang People's Committee.

According to the committee's standing vice-chairman Vo Duy Khuong, the purpose of bond issuance is to mobilize capital for socio-economic development in the city.

The projects in need of funding from bonds include Rong (Dragon) Bridge, Nguyen Van Troi – Tran Thi Ly Bridge, the High-tech zone, and Hoa Xuan Stadium.

One bond is scheduled to hold a value of VND100,000 ($4.76) and will mature in five years. Interest rates on bonds will be regulated according to Circular 81/2012/TT-BTC, issued by the Ministry of Finance.

The Hanoi Stock Exchange is expected to hold a bond auction for Da Nang City on October 9.

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