|Vietnamese and foreign organizations and individuals may register to buy Agribank bonds from November 13, 2023 to December 5, 2023__Photo: agribank.com.vn|
In order to provide customers with more safe and profitable investment opportunities, and at the same time, increase long-term capital to meet lending needs to promote economic development, Agribank plans to issue VND 10,000 billion of bonds to the public in 2023 with an attractive interest rate.
Worthy of note, the coupon rate of Agribank bonds is 2 percent higher than the average of interest rates on 12-month savings accounts applied by the group of big fours, namely Vietcombank, BIDV, Vietinbank and Agribank. Specifically, the coupon rate is a floating rate, equaling the reference interest rate (the average of the interest rates offered on Vietnam-dong personal savings deposits of a term of 12 months with interest paid at maturity by BIDV, Vietinbank, Vietcombank and Agribank at the date of bond interest rate determination) plus a margin of 2 percent per annum. Agribank bonds have a face value of VND 100,000. The tenor of the bonds is eight years and coupons will be paid on a yearly basis. Particularly, Agribank bonds can be deposited for trading, assignment and pledge on bondholders’ securities accounts.
Investors, including Vietnamese and foreign organizations and individuals, may register to buy Agribank bonds from November 13, 2023 to December 5, 2023 at Agribank's head office and all branches and transaction offices nationwide and through the issuing agent, Agriseco - Agribank Securities Joint Stock Company.
For the time being, Agribank only distributes bonds issued by itself. The bank neither issue and distribute nor provide services related to corporate bonds of other issuers.
Agribank is one of the biggest State-owned commercial banks of Vietnam and plays a key role in the country’s banking system. It has a network of nearly 2,300 branches and transaction offices nationwide. The bank now has total assets of VND 1.9 million billion, a capital amount of VND 1.8 million billion; and total outstanding loans of VND 1.5 million billion.- (Ngoc Thuy)