Vietnam

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has launched a $300m deal into general syndication, marking its second attempt at tapping the loan market.

PetroVietnam Gas (PV Gas) is in talks with banks about its syndication plan for a nine year loan.

Thailand’s ministry of finance has approved two foreign companies to issue baht-denominated bonds, including the first Vietnamese borrower to tap the market.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is making its second attempt to raise a syndicated loan, after pulling a deal in 2017. It is one of several Vietnamese borrowers now planning a debut in the international market, reports Pan Yue.

The Asian bond market has been red hot since the start of 2020. With nearly every day bringing a number of blowout deals, it would be easy to overlook the three borrowers that have fallen short of completing their proposed transactions. But the failed deals may be a sign of things to come.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has mandated five banks for a $300m loan.

The overwhelming supply of international bonds from Asia continued on Tuesday, as issuers dashed to raise dollars, and in one case, sterling. But not every borrower was able to cross the finish line.

Axis sells full Syndicate Bank loan — Onfem boosts size to HK$6bn — Indorent closes $175m borrowing with 13 banks — VPBank wraps up $200m facility — Vingroup attracts 14 lenders

Vietnamese conglomerate Vingroup Joint Stock Co and its automobile subsidiary VinFast have exercised part of a greenshoe option on their joint borrowing, boosting the loan size to $525m.

VPBank Finance Company, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has increased the size of its loan to $200m after seven banks joined during general syndication

More dollar bonds from Vietnam will come to the market in 2020, despite ratings agency Moody’s changing the government’s outlook to negative this week.

Vietnamese car manufacturer Truong Hai Auto Corp has closed its debut offshore borrowing, increasing the size of the loan to $210m.