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 notes were reoffered at 96.181 to yield 11%. Credit Suisse was a sole bookrunner.
While small in size by the standards of the international bond market, Hoang Anh’s issue stands out from...
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