On 29 November 2019, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) successfully issued 6-year bonds of VND1,300 billion.

These bonds are non-convertible, non-warranted and non-guaranteed, denominated in Vietnamese Dong, establishing the direct debt repayment obligations, being subordinated debts of the Joint Stock Commercial Bank for Investment and Development of Vietnam, and meeting the current regulations to be calculated in BIDV’s tier 2 capital.

BIDV has the right to call the bonds after 1 year from the issue date.

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 on the Rate Determination Date for such specific coupon payment period), plus 1.3%/p.a.

In total, BIDV has issued VND5,835 billion of 6-year and 7-year bonds on November 2019.