From PR Newswire
The Government of the Socialist Republic of Vietnam (“Vietnam”) announced today the commencement of a global offering (the “New Bond Offering”) of a series of global bonds due 2024 to be denominated in U.S. dollars (the “New Bonds”).
An employee at a money changer counts USD 100 bills. (NOEL CELIS/AFP/Getty Images)
Proceeds of the issuance will be used for Vietnam’s general funding purposes, including managing its outstanding obligations.
Approval-in-Principle has been received from the Singapore Exchange Securities Trading Limited (the “SGX-ST”) for permission to deal in and quotation of the New Bonds on the SGX-ST.
Tender Offer
Vietnam also announced today the commencement of an invitation (the “Invitation”) to holders of bonds of each series listed in the table below (the “Old Bonds”) to submit offers to sell their Old Bonds for cash up to an aggregate amount to be determined by the Government in its sole discretion (the “Maximum Purchase Amount”).
The terms and conditions of the Invitation are set forth in the Invitation for Offers, dated Thursday, November 6, 2014 (the “Invitation for Offers”). YOU ARE CAUTIONED TO READ THE INVITATION FOR OFFERS IN ITS ENTIRETY. THE INFORMATION IN THIS RELEASE IS ONLY A SUMMARY, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE INVITATION FOR OFFERS. The Invitation for Offers is available on www.bondcom.com/vietnam.
The Invitation for Offers is conditioned on the offering and pricing on the date hereof (but not the closing) of the New Bonds in an amount, with pricing and on terms and conditions acceptable to Vietnam in its sole discretion.
The submission period (the “Submission Period”) will commence at or around 4:00 p.m., New York time, on Wednesday, November 5, 2014 and expire at or around 4:00 p.m., New York time, on Thursday, November 6, 2014 unless extended or earlier terminated. The settlement of the Invitation is scheduled to occur on Friday, November 14, 2014 (the “Settlement Date”). The purchase price to be paid for the Old Bonds of each series tendered and accepted pursuant to the invitation is indicated in the table below. Holders of the Old Bonds participating in the Invitation will also receive any accrued and unpaid interest (the “Accrued Interest”) on their Old Bonds up to (but excluding) the Settlement Date.
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