Vietnam

Techcombank priced Vietnam’s largest ever IPO this week at the top of guidance, raising D21tr ($922m).

Vietnamese real estate developer No Va Land Investment Group pulled off the combined sale of a convertible bond and top-up share placement last week. The success of the hybrid fundraising structure means other potential issuers in the region should give it a close look.

Hyosung Vina Chemicals, a Vietnam-based business unit under South Korean conglomerate Hyosung, is raising a $1bn loan from both Korean and international lenders.

Vietnam’s Nghi Son 2 Power, which counts Japanese trading and investment conglomerate Marubeni Corp as one of its investors, has raised a $1.869bn project loan from a group of mainly Japanese lenders.

Vietnamese real estate developer No Va Land Investment Group brought a $310m convertible bond and a top-up share placement to the market this week, a combination rarely seen in the region. It capitalised on the rising interest in Vietnam, as the country hosts two record-breaking IPOs, writes Jonathan Breen.

Vietnamese conglomerate Vingroup Joint Stock Company is seeking a $400m loan for its newly established car manufacturing business.

Vinhomes is gearing up to launch the largest IPO in Vietnam, kicking off investor education for the up to $2bn share sale.

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has mandated ANZ as the sole mandated lead arranger and bookrunner for a $100m bullet loan, according to sources close to the deal.

The Vietnamese government is looking to raise up to D6tr ($263.4m) from an IPO of pay-TV service provider VTVCab, a unit of state-owned broadcaster Vietnam Television.

Vietnam’s state-owned VietinBank bagged commitments from 12 banks for its $100m loan during general syndication, with lenders from Europe, China and India jumping on-board.

Malaysia’s RHB Bank is deepening its presence in Vietnam with the full acquisition of Vietnam Securities Corp (VSEC), a stock brokerage and corporate finance outfit.

The pipeline for equity capital raisings out of Southeast Asia is filling up nicely, with issuers from the Philippines, Vietnam, Bangladesh and Singapore looking to launch deals.