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$600m bonds to fund shipbuilding

$600m bonds to fund shipbuilding
Vietnam Shipbuilding Industry Group has won government approval to sell as much as $600 million of bonds overseas to fund construction of new ships.

Vietnam Shipbuilding Industry Group has won government approval to sell as much as $600 million of bonds overseas to fund construction of new ships.

Vietnam Shipbuilding Industry Group, the state-owned company known as Vinashin, has won government approval to sell as much as $600 million of bonds overseas to fund construction of new ships.

Vinashin plans to raise between $400 million and US$600 million in a dollar-denominated bond sale, ?hopefully within the first quarter next year and with a government guarantee,? Chief Business Officer Nguyen Quoc Anh said in a phone interview with Bloomberg from the northern port city of Quang Ninh.

The company received money from a $750 million bond sale by Vietnam"s government in 2005, its first in a foreign currency.

www.TurkishMaritime.com.tr

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