October 9, 2018 / 4:01 AM / a month ago

Vietnam's Hoan My Medical raises $100 mln in bonds

HANOI, Oct 9 (Reuters) - Private hospital chain Hoan My Medical Corp has raised bonds worth 2.33 trillion dong ($99.9 million) through Standard Chartered Bank (SCB) Vietnam, the bank said late on Monday.

The dong-denominated fixed-rate bonds has a bid-to-cover ratio of 2.5 with annual interest rate of 6.64 percent for the 5-year maturity term and 6.74 percent for the 7-year maturity term, SCB Vietnam said in a statement.

“We are pleased to arrange the first healthcare bond for the healthcare industry in Vietnam for Hoan My,” said Nirukt Sapru, chief executive of SCB for Vietnam and ASEAN & South Asia Cluster Markets.

The issuance was guaranteed by Credit Guarantee and Investment Facility (CGIF), a trust fund of Asian Development Bank rated AA internationally by S&P, SCB said.

Hoan My, one of the largest private hospitals in Vietnam, has 14 hospitals and six clinics, serving more than three million patients annually, according to the statement. ($1 = 23,356 dong) (Reporting by Mai Nguyen; Editing by Gopakumar Warrier)

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