Petrovietnam plans bond issuance

VNGOVNet – Under direction of the Ministry of Finance, Petrovietnam and the Bank for Investment and Development of Vietnam (BIDV) are making plans to issue bonds in international capital markets in order to restructure their non-Governmental guarantee loans. The plans will be submitted to the PM for consideration and decision.

December 01, 2006 6:25 AM GMT+7

Before going to the PM, Petrovietnam and BIDV will complete related procedures and submit its issuance plan to the competent agencies for approval first in line with the current regulations.

Earlier, the PM had agreed for Petrovietnam and BIDV to take out a bridging loan of US$1.5 billion to finance a project investment group.

He reminded them to time the taking out of the loan in favor of the bond issuance so that proceeds from the bond issuance can be used timely to repay the loan./.

By Xuân Hồng
(Source: Ministry of Resources and Environment)