Hoang Anh closes rare Vietnamese corporate bond

High-yield borrower Hoang Anh Gia Lai raises $90 million from a small handful of investors, making it the first private-sector company in Vietnam to sell a dollar bond.

Hoang Anh closes rare Vietnamese corporate bond
The entrance to Hoang Anh's rubber plantation

Hoang Anh Gia Lai became Vietnam’s first fully private-sector borrower to issue in the dollar bond market on Wednesday night when it priced a $90 million high-yield deal.

The company, which is headquartered in Pleiku City, has interests in a hodgepodge of businesses including residential property development, hydropower generation, iron ore mining and rubber plantations in Vietnam, Cambodia and Laos.

The coupon for the five-year non-call-three was fixed at 9.875% and the...

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