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Vietnam’s VinPearl issues new US dollar bonds in Singapore at 9.25 percent

VinPearl, the hospitality arm of Vietnam’s Vingroup, has repurchased US$284 million worth of bonds issued at a coupon rate of 3.25 percent in 2021 and maturing in 2026, and issued a further US$150 million worth of bonds at 9.5 percent maturing in 2029, according to an announcement made to the Singapore Stock Exchange. The bonds are fully exchangeable into shares of Vingroup.

Vinpearl is a prominent tourism and entertainment conglomerate in Vietnam. Its well-known for its resorts, amusement parks, and cable cars. The company is also a part of Vietnam’s biggest conglomerate, VinGroup. Over the last few years, Vingroup has been struggling to develop its electric car arm, VinFast. The subsidiary reportedly lost US$2.4 billion last year with heavy losses continuing into 2024.

Vingroup is publicly traded on the Ho Chi Minh City Stock Exchange under the ticker VIC.

See also: How to Open a Trading Account in Vietnam: Technical Guide 2024

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