Vinashin Plans Bond Issue

21 September 2010 (Last Updated September 21st, 2010 18:30)

Vinashin, the state-owned shipbuilder of Vietnam, is planning to issue $300m overseas bonds to pay off its debt with French bank Natixis. The government has also instructed Vinashin to work with Vietnam National Oil and Gas Group and negotiate with Natixis over the amount owed and the dea

Vinashin, the state-owned shipbuilder of Vietnam, is planning to issue $300m overseas bonds to pay off its debt with French bank Natixis.

The government has also instructed Vinashin to work with Vietnam National Oil and Gas Group and negotiate with Natixis over the amount owed and the deadline for payment.

The near-bankrupt shipbuilder has a debt of about $4.5bn, forcing the Vietnamese Government to reorganise the shipbuilding firm.