Vietnam Prosperity Joint Stock Commercial Bank (VPBank - VPB) has priced a USD300 million 3-year Notes via BNP Paribas, J.P, Morgan and Standard Chartered Bank.
The Notes were priced at 6.25% (nominal) and distributed to Asian and European investors at 52%/48% respectively.
This marks the largest volume and record-low coupon attained by a non-sovereign Vietnamese Issuer on the global market. VPBank's Notes are non-convertible, unsecured and are listed on the Singapore Stock Exchange (SGX-ST). The Investors’s bids were tripled the Issuer’s ask volume.
VPBank shall utilize the proceedings to improve its financial capacity, enhance operational safety, supplement funding mix to meet the medium and long term loans or other purpose as set out in the applicable Pricing Supplement.
Unlike other one-time issuance of other Issuers, this was the first drawdown under the US$1 billion Euro Medium Term Note Program of VPBank within 12 months.
This also marks VPBank’s footprint in such EMTN international playground and makes it more flexible and proactive in the next drawdown in light of market conditions as well as the the bank’s needs. Investors also have highly appreciated VPBank's participation in the program.