RELEASED DATE 26 Nov 2019
Particularly, BIDV issued VND2,577 billion of 7-year bonds and VND223 billion of 10-year bonds.
The bonds are non-convertible, non-warranted, non-guaranteed, denominated in VND, establishing the direct debt repayment obligations, being subordinated debts of BIDV, and meeting the current regulations to be calculated in BIDV’s tier 2 capital.
The interest rates are calculated as follows: the Reference Rate (which is the average of 12-month interest rates for individual savings deposit denominated in Vietnamese Dong with interest paid at maturity of 4 banks including Agribank, Vietinbank, BIDV, and Vietcombank) plus 1.2% p.a. for 7-year bonds and 1.3% p.a. for 10-year bond.
BIDV has the right to call the bonds after 2 years from the issue date for the 7-year bonds and 5 years for the 10-year bonds.