Vinacomin and Cabei tap domestic markets

Vinacomin of Vietnam successfully prices a debut bond offering, while Cabei issues in Thailand. Both deals are managed by Citi.

VietnamÆs largest mining company, Vinacomin, priced an inaugural Vnd1.5 trillion $95.2 million 10-year offering on Friday, attracting a total order book of Vnd1.75 trillion and pricing at a yield of 9.5%, or 40bp over government bonds.

The pricing is reportedly the tightest spread ever achieved by a Vietnamese corporate in its domestic market, despite a substantial increase in bond yields on the back of inflationary pressures.

The majority of the bonds were sold to onshore investors, although 7% were placed...

To continue reading, please login or register for free

Click for more on: vietnam | thailand | domestic bond

Print Edition

FinanceAsia Print Edition