HÀ NỘI — Vingroup (VIC) is set to raise up to US$325 million through a new international bond offering, a move aimed at strengthening its financial position and expanding global investor access. The Board of Directors recently approved the issuance of US dollar-denominated bonds at an interest rate of 5.5 per cent per year.

Each bond will have a par value of $200,000, equivalent to a maximum of 1,625 units, with a five-year term from the date of issuance. The bonds are non-convertible, do not carry warrants and are unsecured, with repayment obligations resting solely on the issuer. Investors will have the option to receive shares of Vinpearl Joint Stock Company (VPL) owned by Vingroup.

The issuance is expected in the fourth quarter of 2025, subject to approval from relevant State agencies. The bonds will be issued and listed on Austria’s Vienna MTF and will not be offered or listed in Việt Nam.

Vingroup’s semi-annual financial report for 2025 shows total financial debts of VNĐ279 trillion, 1.7 times higher than its equity. Outstanding bond debts account for nearly VNĐ94.24 trillion, while $150 million in convertible bonds were issued in August 2024 with a five-year term.

The group, led by billionaire Phạm Nhật Vượng, is also seeking domestic capital. The Board of Directors approved the issuance of domestic private bonds valued at VNĐ3.5 trillion and VNĐ2.5 trillion on September 30 and September 26 respectively.

In another development, Vingroup will conduct a written shareholder ballot on the issuance of shares to increase equity capital from existing equity and other authorised sources. The last registration date is October 30, 2025, with consultation expected in November 2025.

On the Vietnamese stock market, VIC closed last week at VNĐ204,000 per share, five times higher than at the start of the year, giving Vingroup a market capitalisation exceeding VNĐ786 trillion, the highest on the Vietnamese stock exchange. — BIZHUB/VNS