HO CHI MINH CITY DEVELOPMENTCOMMERCIAL BANK Ho Chi Minh City Development Commercial Joint Stock Bank (HDBank - HoSE: HDB) announces the issuance of international bonds to increase tier-2 equity for IFC and international financial institutions, initiating the long-term development cooperation program as mutally agreed.
Specifically, according to the issuance plan approved by the GMS, HDBank will issue to the consortium of investors including International Finance Corporation (IFC) - a member of the World Bank Group, DEG - Deutsche Investments- und Entwicklungsgesellschaft mbH a member of German banking group KfW and the LeapFrog Investments.
The total issuance amount is USD 165 million, with bond term of 5 years and 1 day. Investors may convert the bonds into common shares persuant to the terms and conditions of the bonds and relevant regulations. The expected conversion price is higher than 43,000 VND per share.
This issuance is the first step in HDBank's long-term cooperation program with international financial institutions, including the development and implementation of plans to maximize the Bank's growth potential and better contribute to the economy and community.
In parallel with investment cooperation, providing loans to retail and small business customers, including women-owned businesses, promoting green credit programs, IFC and international financial institutions will work with HDBank to further improve management capacity and technology, promote digital transformation, and expand international cooperation.
This international bond issuance follows the previous year's issuance to leading European and regional financial institutions. The agreements are based on cooperation for sustainable development, creating long-term values for the economy as well as the community and society.
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HDBank - Ho Chi Minh City Development Joint Stock Commercial Bank published this content on 22 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 December 2021 02:46:04 UTC.
