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September 21, 2010

Vinashin Plans Bond Issue

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

By cms admin

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.

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