Goldman Sachs deepens investment in Vietnam
CII said in a statement it inked the deal on Thursday to issue convertible bonds worth US$25 million to the fund Goldman Sachs Investment Partners managed by Goldman Sachs Assets Management Co. under Goldman Sachs Group. The mobilized fund will be used to finance the company’s projects.
CII also said that it planned to ask for shareholders’ approval for Goldman Sachs to invest US$15 million more in CII.
The convertible bond carries a term of five years and an annual coupon of 4%. From the second year, bond holders can convert the bond into CII shares at a price of VND43,500 per share, and from the third year, bond holders can ask CII to buy back its bonds.
CII stock on Thursday traded at VND35,000 per share, up VND1,000 from a day earlier.
Masan Group Corporation on Wednesday announced its agreement on the convertible loan worth US$30 million with Goldman Sachs. The loan later can also be converted into common shares of Masan at VND65,000 per share converted into U.S. dollars at the current dong/dollar exchange rate.
The deal, which requires regulatory approval, has helped bring the amount Masan has raised from foreign investors in the year to date to US$120 million.
Global financial institution Goldman Sachs as of end-June this year managed total assets of about US$802 billion.
