vietnam-electric-rolls-out-second-long-dong-bond

Vietnam Electric rolls out second long dong bond

Only a month after launching its inaugural offshore dong deal, newly renamed and restructured Vietnam Electric announces a proposed VnD1 trillion 10-year offering.
State-owned Vietnam Electric has announced plans to raise funds through a dong-denominated bond sale soon after the company shed its old name of Electricity of Vietnam and was restructured under government writ.

Joint lead arrangers HSBC and local entity An Binh Securities announced the deal on Monday. The structure will be a 10-year VnD1 trillion $62.2 million fixed-rate bullet, and is expected to price later this week.

The deal comes shortly after the entity in its previous form, Electricity of Vietnam, priced a VnD1 trillion $62.2million 10-year transaction in November. That deal had an interesting structure in that it was priced to pay a 9.60% coupon after the first year, but stepped up...
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