ANZ Completes Corporate Bond Issue for Hoa Phat Group

ANZ has successfully led the first issue of unsecured floating rate corporate bonds denominated in local dong currency for Hoa Phat Group Joint Stock Company.

 

ANZ was sole lead manager and book runner for the three-year VND800 billion (US$42m) bond offering for Hoa Phat, a diversified Vietnamese manufacturing and trading company. The bond is priced with a fixed coupon of 14.5 per cent for its first year and for subsequent years pays a floating rate of 3.50 per cent over the average 12-month deposit rate of Vietnam’s four major banks.

 

Mr Reuben Tucker, ANZ’s global head of bond origination, said: “The deal was targeted specifically to the fixed income portfolios of domestic commercial banks and was priced within Hoa Phat’s target financing range. The completion of the bond issue with excessive registering purchasers shows the good relationship that ANZ and Hoa Phat Group have built with domestic institutional investors and our ability in rating customer credit on the market.”