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|Moody's has recently decided to maintain the B1 credit rating for HDBank|
According to the Ho Chi Minh City Stock Exchange (HSX), HDBank's Board of Directors has approved a decision to lock the bank's foreign ownership limit (FOL) at 21.5 per cent of charter capital. Its goal is to expedite plans with strategic partners.
|Upon successful completion, the proceeds from the bond issuance will boost HDBank’s medium- and long-term funds and facilitate its development strategies as planned.|
Simultaneously, the southern lender also decided to issue international convertible bonds worth $160 million in total value.
These bonds will have a term of five years and one day before reaching maturity and can be converted into ordinary shares, no-collateral and no warrants attached. The bonds will be qualified as a supplement to HDBank's Tier 2 capital.
These bonds will be issued to institutional investors in developed markets. Upon successful completion, the proceeds from the bond issuance will boost HDBank’s medium- and long-term funds and facilitate its development strategies as planned.
At the same time, HDBank will further improve asset quality and capital adequacy indicators.
Amid the global pandemic, the international credit rating agency Moody's has recently announced maintaining the B1 credit rating for HDBank, with an assessment that the lender has made positive progress in improving asset quality and capitalisation, as well as achieving high profitability and sustainability.