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This is the second time following the previous issuance of VND400 billion ($17.4 million) bonds in 2018, leveraging the solid trust between both firms. In addition, Shinhan Bank Vietnam has largely contributed to the completion of the deal by taking on the role as the Agent Bank, Security Agent and major bond investor.
|The participation of SSV in the Vietnamese capital market marked a new and positive milestone by virtue of its deep understanding of the preferences of investors.|
Gelex is the leading electrical equipment group in Vietnam with a diversified product portfolio and a top-tier market position. The group has two core business lines, namely industrial production and infrastructure. While the industrial production business consists of electrical equipment manufacturing and building materials, the infrastructure business is composed of national key industries such as renewable energy, water resources, and industrial complexes.
SSV dropped anchor in Vietnam in 2016, with its charter capital fully owned by its parent firm Shinhan Investment Corp (SHIC) in South Korea, a leading securities group in the local capital market with a history reaching back to 1973.
SHIC has a total equity of $2.89 billion and manages over $110 billion assets for clients. The two biggest credit rating agencies in the world, S&P and Moody’s, have rated SHIC with a very high creditworthiness of A- and A3, respectively.
The participation of SSV in the Vietnamese capital market marked a new and positive milestone by virtue of its deep understanding of the preferences of investors. The company not only opens another door for capital raising for local corporate issuers, but also helps to bring in an abundant and untapped source of capital for the Vietnamese market.