At 9%, the bond priced flat to EVNÆs 2016 10-year bond, a remarkable achievement in view of the considerable size of the deal - the transaction is three times the previous largest Vietnamese corporate bond. Investors were clearly undeterred by VinashinÆs high gearing ratio and unaudited accounts. 100% of the investors were first-time buyers of Vinashin, including 83% who had never bought Vietnamese...
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