Vinashin’s debts laid bare

Hanoi: Vietnam's state-owned Debt and Asset Trading Corp (DATC) raised $626m through government-guaranteed bonds in 2013 to restructure the foreign debt owed by state shipbuilder Vinashin, according to a DATC report, the Lao Dong (Labour) newspaper reported.

DATC also raised 3.46trn dong ($164.05m) via domestic bonds to help fix Vinashin debt at 18 banks in the country, the report said.

Debt laden Vinashin has let go of thousands of workers in the past year and has also rebranded as Shipbuilding Industry Corporation (SBIC) [15/01/14]

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