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Hoan Kiem Lake

 
12/1/2010
Vietnam’s First International CB Offering

VILAF has won in “Asian-Counsel’s Deals of the Year 2009” for its role as local counsel for the issuer in relation to the offering and listing of convertible bonds on SGX. Below are some major details of this CB offering:

  • Issuer: Vincom Joint Stock Company

  • Sole Bookrunner and Lead Manager: Credit Suisse (Singapore) Limited

  • Par Value: US$100,000 per bond

  • Type: Unsecured bonds ranking no lower than other unsecured debts

  • Total Issue Size: US$100 million

  • Issue Price: 100 per cent. of par value

  • Coupon: 6 per cent. per annum, payable semi-annually commencing 15 June 2010

  • Initial Conversion Price: VND 113,400

  • Conversion date: Commencing on 20 April 2010 and subject to the option of the bond holder

  • Conversion Price Reset: Subject to certain terms and conditions of the Bonds, the conversion price will be subject to adjustment on 15 June and 15 December in each year, from and including 15 June 2010, provided that the final Reset Date shall be 4 December 2014. The conversion price shall not be adjusted to less than 80% of the initial conversion price.

  • Term: 5 years

  • Closing date: 15 December 2009

  • Maturity date: 15 December 2014

  • Form of bond: book entry

  • Offering method: Regulation S

  • Holder: Foreign investors

  • Issue purpose: To finance the investment in Company’s property projects of Eco City and Royal City and for general working capital purposes

  • Listing of the Bonds: Singapore Exchange Securities Trading Limited

  • The issue of the Bonds has successfully closed on 15 December 2009

  • The Bonds was admitted to the Official List of the Singapore Exchange Securities Trading Limited with effect from 9.00 a.m. on Wednesday, 16 December 2009.


For further information, please contact our partner Mr. Tran Anh Duc at duc@vilaf.com.vn

Source: VILAF lawyers - 7 January 2010
 

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