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BIM Land raises US$200 million via debut issuance of Singapore-listed bonds


The Singapore Exchange Centre

BIM Land is the first Vietnamese issuer to access the international High Yield bond markets since 2019. The last offshore deals came when Vietnam Prosperity Joint Stock Commercial Bank raised USD 300 million from three-year senior bonds at 6.25% coupon and the sponsors of the Mong Duong 2 power plant successfully refinanced project debt with a USD 679 million bond issue, both in July 2019. The only previous USD bond from a Vietnamese real estate issuer came from Vingroup in 2013 for a 5NC3 bond at 11.625% coupon.

As a green-labelled bond, BIM Land plans to use the proceeds from the bond to fund EDGE-certified real estate projects. The company has published its inaugural Green Finance Framework, with a Second Party Opinion issued by DNV GL. BIM Land’s parent BIM Group's operations already include renewable energy businesses in both solar and wind power.

"The debut High Yield bond issuance is a great success of BIM Land, helping the company to expand and diversify its funding channels, and assert its position in the international capital market,” commented Ms. Ha Bui, BIM Land’s CFO. Besides traditional financing channel by local banks, by international institutions as IFC, Credit Suisse and local bond issuance, this is the new financing channel that BIM Land has achieved.



Hyatt Hotels Corporation and BIM Group co-operate to develop Park Hyatt Phu Quoc.

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