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|VPBank was recognised at The Asset Triple A Awards|
The Asset Triple A Awards is an industry award-giving body that gives distinction to companies and financial institutions that offer outstanding services contributing to the development of the finance industry in the Asia-Pacific, including countries like Japan, Australia, and Vietnam.
The representative of The Asset noted that VPBank received the accolade due to the landmark deal it has completed in July 2019. Specifically, VPBank has succeeded in raising $300 million from the issuance of international bonds with a three-year term.
According to The Asset, the deal marks the largest volume of USD bonds and a record-low coupon rate of 6.25 per cent to be attained by a non-sovereign Vietnamese issuer for the first time on the international market. After six months of issuance, VPBank bonds have offered quite good liquidity with a positive fluctuation in bond yields.
The Asset Triple A Awards recognitions represent the industry’s most prestigious awards for banking, finance, treasury, and the capital markets. By recognising the deals that matter with an eye on sustainability and the institutions behind these structures, these awards pave the way forward for the future of finance. As Asia’s multi-media platform with a global reach to issuers and institutional investors active in Asia’s capital markets, The Asset and The Asset Triple A Awards shine the spotlight on the defining deals of the year in consultation with the market, including issuers, investors, and intermediaries.
The representative of VPBank said that it did not take much time for the bank to prepare the application for the award, which is just a reference for the organising committee. The fact is that nominees have gone through many rounds as well as gaining feedback from top-notch experts in the financial industry.
“We are pleased that our efforts in finding stable sources of capital and improving business results have been recognised by reputable finance experts, which was beyond our expectation," he added.
According to the representative of The Asset, VPBank's international bond issuance marked an important milestone for the Vietnamese G3 bond market. For the first time, a large volume of USD bonds have been issued on an international market by a non-sovereign Vietnamese issuer since 2014. This is also the lowest bond interest rate issued by a Vietnamese private organisation. Thanks to investors' interest, VPBank has fulfilled its goals in terms of price and transaction scale.
VPBank has achieved positive business results in 2019. VPBank’s leaders are confident that the bank can exceed 10 per cent of its profit target and post impressive figures.