HANOI, Dec 23 (Reuters) - Vingroup, Vietnam's
biggest listed company, plans to raise $1.5 billion through the
issue of international bonds next year to boost capital for its
automobile unit, the company said in a statement.
The funds will be used to repay loans and for the expansion
of VinFast, the group's automobile unit, the statement said.
Bond holders will be able to exercise options to receive share
in VinFast Singapore.
Vingroup earlier this month set up a Singapore-based holding
company owning a stake in VinFast's operations in Vietnam in
preparation for the auto-maker's listing on the U.S. stock
market slated for the second half of next year.
The bonds would have a maturity of five years. Par value has
not been revealed yet, the statement said.
VinFast became the country's first fully fledged domestic
car manufacturer when its gasoline-powered models built under
its own badge entered the market in 2019.
It is betting on the U.S. market, where its electric SUVs
and a battery leasing model are expected to debut next year.
Vingroup said it was targeting global electric vehicle sales
of 42,000 units next year, up from its previous plan of 15,000.
(Editing by Ed Davies)