Illustration
The Management Board of the Saigon-Hanoi Commercial Joint Stock Bank (SHB) has recently approved the plan to issue bonds to the public in 2024.
Accordingly, SHB plans to issue a total of VND 5,000 billion worth of bonds in two phases (phase 1 expected in Q4/2024; phase 2 expected in Q4/2024 – Q1/2025). The timing and tenor of the bond issues have not yet been announced.
SHB stated that the expected interest rate at the time of issuance is 8.2% per annum. This rate is 2.4 percentage points higher than the highest deposit rate currently offered by SHB.
The bank said that the proceeds from the two bond issues will be used to supplement Tier 2 capital, improve the capital adequacy ratio, and serve SHB’s customer lending needs in 2024 and subsequent years in industries such as manufacturing; construction; transport and warehousing; real estate business; production and distribution of electricity, gas, hot water, steam, and air conditioning.
SHB will use the proceeds from its customers’ loan repayments to repay the principal and interest on the bonds. The expected lending rate for the funds raised from the bond issues is about 11.2%, 3% per year higher than the bond issuance rate.
It is known that, so far this year, the bank has successfully raised a total of VND 4,000 billion through three bond offerings.
The State Bank Significantly Increases OMO Lending, Injecting Tens of Thousands of Billions into the Banking System
In the latest auctions held on September 24 and 25, the State Bank of Vietnam (SBV) significantly ramped up the scale of its open market operations (OMO) through bill pledge loans.
Optimizing the Securities Law: Further Tailoring the Corporate Bond Market?
The corporate bond market is undergoing a transformation to restore investor confidence after a series of setbacks. With impending revisions to the Securities Law, this market is expected to face further technical tightening measures.
The Accused, Truong My Lan, Testifies About the Fateful Lunch Meeting Regarding the Bond Issuance
Mrs. Truong My Lan, at the behest of Mrs. Hong, hosted a “lunch meeting” and invited several key accused individuals, including leaders from SCB and Tan Viet Securities, to discuss matters pertaining to the bond issuance.
The Power of Collaboration: SHB and Vietnam Steel Corporation Join Forces
“The partnership between SHB and VNSTEEL marks a significant step forward in their bilateral relationship. Together, they are committed to mutual growth and dedicated to contributing to the development of the Vietnamese economy.”
The Flow of Funds: Market Confirms Bottom, Shaking Hands to “Seal the Deal”
A week brimming with news and significant events propelled the market to surge beyond many investors’ expectations. The rapid ascent left some feeling like they missed the boat. However, experts believe that latecomers still have opportunities as the market is due for more volatility, shaking off short-term speculative positions while welcoming new investors.
