The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has successfully issued VND500 billion of 7-year bonds.

The bonds are non-convertible, non-warranted, non-guaranteed, denominated in VND, establishing the direct debt repayment obligations, being subordinated debts of BIDV, and meeting the current regulations to be calculated in BIDV’s tier 2 capital. The bonds were issued on 21 November 2019 and BIDV has the right to call the bonds after 2 years 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) plus 1.3% p.a.