vinashin-targets-international-investors-for-rare-dong-deal

Vinashin targets international investors for rare dong deal

The state-owned shipping group hopes to benefit from growing investor appetite for Vietnamese issues.
Vinashin, the state-owned Vietnamese shipbuilding group, began soft marketing a VND1 trillion to VND3 trillion $65 million to $195 million bond issue last week via Deutsche Bank. The 10-year bullet deal is being launched in tandem with a $200 million syndicated loan led by Credit Suisse.

Earlier this year, Vietnam was viewed as a very hot destination for foreign funds. Both its stock market and bonds were performing well in light of strong GDP growth and the country's accession to the WTO in January.

In recent weeks, however, all emerging market paper has come under selling pressure and bankers say Deutsche Bank has been understandably cautious about releasing price guidance, or setting a...
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