Masan (MSN) to issue bonds worth $65 mln
Masan (MSN) to issue bonds worth $65 mln
Giant food company Masan hopes to raise VND1.5 trillion ($64.7 million) by issuing three-year bonds this month to restructure debts.
The bonds, to be issued on September 26, would carry a coupon rate of 10 percent in the first year, the company said in a statement.
In the next years the rate will be calculated by adding 3.2 percentage points to the average interest rate of Vietnam’s top four major state-owned banks BIDV, Vietcombank, Vietinbank, and Agribank.
The minimum subscription is VND10 billion ($431,000) for individual investors and VND200 billion ($8.6 million) for organizations.
Masan has interests in food, beverages, animal feed and mining. Its MSN stock is in Vietnam’s benchmark VN30-Index, a basket comprising the Ho Chi Minh Stock Exchange's 30 largest stocks in terms of market cap.
As of the end of June, the group’s total assets were valued at VND68 trillion ($2.93 billion), while liabilities accounted for over one-third.
Its post-tax profit in the second quarter fell 50.3 percent year-on year to VND1.19 trillion ($51 million).
