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-VietinBank plans VND5tn capital raise from sale of two-year bonds.

Global Banking News-October 4, 2010--VietinBank plans VND5tn capital raise from sale of two-year bonds(C)2010 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 04 October 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) (CTG.VH), Vietnam's fourth-largest bank by market share, is planning to sell bonds later this year to raise up to VND5tn (USD257.7m).

In a filing to the Hochiminh Stock Exchange, the bank said that it plans to issue the two-year bonds at a fixed annual coupon of 11.19 percent for the first year. The coupon for the remaining year will be floating, it added.

The bank has raised VND3tn through the sale of two-year bonds in June this year, Dow Jones noted in a related report.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))

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Publication:Telecomworldwire
Date:Oct 4, 2010
Words:157
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