VietinBank (HoSE: CTG) announces the completion of 2 bonds issuance with total value of VND 1,000 billion, equally divided to 2 businesses. Bonds offered for sale are worth 1 million dong, with a term of 15 years or 8 years with different interest rates.
For 15-year term, fixed interest rate 7.85% / year for the entire 15-year term, paid annually. Bonds are restricted from trading to less than 100 investors. The date of exercising the right to repurchase 10 years from the date of issue.
For the 8-year term, the floating rate is equal to the reference rate (average of personal savings deposit in VND in VND, 12-month term) of Agribank, BIDV, VietinBank, Vietcombank) plus 1.1% / year. Exemption date of 3 years from the date of issue
The two above issuances are part of the previously announced 11,000 billion dong bond offering plan.
VietinBank raised VND 1,000 billion from bonds. Photo: L.H.
The largest issuance with total value of VND 10,000 billion is divided into 2 phases. First, the bank will offer VND 7,000 billion, including VND 3,500 billion of 8-year bonds and the other half of 2030 10-year bonds, in the second quarter-III. Then, this bank will offer VND 3,000 billion, including the above two bonds in the third quarter to the fourth quarter, each VND 1,500 billion.
The proceeds are also supplemented with loans for power generation and distribution, industry and manufacturing, mining and the rest.
Total assets as of the end of March stood at 1.2 million billion dong, down nearly 2% from the beginning of the year. Loans to customers at VND 910,544 billion, down more than 1.3%, while deposits reached VND 895,750 billion, up 1%. Bad debt stood at VND 16,915 billion, up 55%, and the NPL ratio increased from 1.15% to 1.83%.
The bank has more than 57,000 billion dong of valuable papers issued, equivalent to the beginning of the year.