Vietnam bank to issue $124 mln convertible bond (03/08)
06/08/2010 - 73 Lượt xem
The central bank, announcing the approval on its Web site (www.sbv.gov.vn) on Friday, did not say what the Hanoi-based bank, also known as SeA Bank, would use the proceeds for.
SeA Bank, which has seen its assets rise 27 percent over the first six months of 2007 to more than 13 trillion dong, has not published details of the debt issue.
The bank, one of more than 30 partly private banks in Vietnam, expects to double its registered capital to 3 trillion dong by the end of this year.
The central bank has said it would take more dong out of the economy in the coming months through open market transactions to curb inflation, which accelerated to 8.39 percent last month from July 2006.
It has also allowed three Vietnamese banks, Vietcombank, ACB and Techcombank, to raise a combined 17.5 trillion dong in long-term debt.
Last month, HSBC's branch in Vietnam secured central bank permission to issue bonds equivalent to 8 trillion dong by the end of 2007.
Source: Reuters
