Masan raises $129.5mln from first stage non-convertible bond sales

Capital collected from issuing the non-convertible, unsecured and without warrants bonds will be used for expanding its business, lend to units and repay a loan.

The three-year bonds will return interest rate for the first year at 9.3%. For the 6 months afterwards, the rate is calculated as 2.5% and averaged deposit reference interest rate of BIDV, Vietcombank, Vietinbank and Agribank.

Masan announced the second batch of bonds worth VND2 trillion ($86 million), opening for registration between March 9 and March 30. The 20 million non-convertible 3-year bonds will have the same interest rate with those issued in the first phase.

The group plans to issue up to VND10 trillion ($431.5 million) of bonds in four stages. The company said it may repurchase the bonds after 12 months from the date the bonds are issued.

It has issued 30 million bonds in first stage and opened for registration of additional 20 million bonds in second stage. In the third and fourth stages, the company will issue 30 million and 20 million bonds respectively.

► Masan spends nearly $24 million to acquire 52% stake in Net Detergent