Masan Group plans to issue up to 10 trillion dong ($431.5 million) of bonds next year to expand its business, lend to units and repay a loan.
The bonds will be issued in local currency at 100% of face value with a maximum term of 36 months, according to a statement on the company’s website. They will be non-convertible, unsecured and without warrants, it said.
The Ho Chi Minh City-based company will offer the securities in four stages in the first half of next year at coupons fixed in the first year of issuance. Masan said it may repurchase the bonds after 12 months from the date the bonds are issued.
Masan plans to use half the proceeds to increase its holdings in Masan Vision Co. Ltd. The remainder will be for loans to its units Masan Consumer Holdings and MNS Meat Ha Nam Co., and to repay 1 trillion dong borrowed from subsidiary Nui Phao Mining.
Earlier this month, Vingroup JSC merged its retail and agriculture units with Masan Consumer Holdings to form a giant retailing company in Vietnam.