Vinpearl to issue 1tr dong corporate bonds

Wednesday, May 21, 2008
Vinpearl Trade and Tourism Joint Stock Co (coded VPL) recently announced a plan issuing corporate bonds.

Accordingly, the firm would sell one trillion dong of corporate bonds for the first phase of 2008 to domestic and foreign organisations to mobilise capital for the company's projects like the project of building villa area and Dam Gia golf course in Hon Tre Island in Khanh Hoa province's Nha Trang City and other realty projects in Hanoi and HCM City.

These bonds have terms of three-years and five years. Of which, the company would issue 500 billion dong of three-year corporate bonds with the coupon rate of 15% per annum (issued on May 6, 2008 and matured on May 6, 2011) and 500 billion dong of five-year corporate bonds with the coupon rate of 16% per annum (issued on May 6, 2008 and matured on May 6, 2013).

The interest will be paid yearly on May 6.

Reportedly, Vinpearl JSC reached 479.7 billion dong in total revenue from business and finance activities and 82 billion dong from after tax profit last year