Vingroup
According to the disclosure document dated November 22, 2025, the Vingroup Board of Directors has approved a resolution to issue corporate bonds privately.
The total expected issuance value is VND 1,000 billion, with a face value of VND 100 million per bond. These are non-convertible bonds, without warrants, and secured by assets owned by the issuer or a third party.
Source: Vingroup
This bond series has a maximum term of 36 months from the issuance date. Eligible participants are professional securities investors as defined by law. Vingroup’s document states that the proceeds will be used to restructure the group’s debt. The specific issuance timeline depends on market conditions and related procedures.
This domestic capital-raising plan was announced as Vingroup simultaneously pursues an international bond issuance. Earlier, the State Securities Commission confirmed receiving Vingroup’s international bond offering registration file on November 3, 2025. Under this plan, Vingroup aims to issue up to 1,625 bonds with a face value of USD 200,000 each, totaling USD 325 million.
A notable feature of the international bond series is the option to receive shares of Vinpearl Joint Stock Company (Stock Code: VPL), a Vingroup ecosystem member. The bonds have a 5-year term and an expected nominal interest rate of 5.5% per annum. They are non-convertible, without warrants, unsecured, and represent the issuer’s direct debt obligation.
The international issuance is scheduled for Q4/2025, with the bonds listed on the Vienna Stock Exchange (Austria), not offered or listed in Vietnam. Through these consecutive capital-raising channels, Vingroup is diversifying funding sources and optimizing its financial structure in late 2025.
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