Vinashin issues bonds to pay back debts

 

Hanoi: Nguyen Ngoc Su, chairman of the financially troubled Vietnam Shipbuilding Industry Group (Vinashin), has revealed that Vinashin recently issued bonds domestically worth VND12trn which is equivalent to 30% of its debt. 

"For the remaining amount of VND17trn, we are striving to issue bonds in the fourth quarter this year or early 2014 to complete the restructuring of the debt," Su said.

For $600m debt of international credit institutions and banks, Su said Vinashin has reached an agreement with all creditors. Vinashin will officially issue international bonds this month, Su said, and finish the restructuring of its debt.  [08/10/13]

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