GuarantCo guarantees VND 660 billion Nam Long Investment Corporation bond
Summary
Nam Long has issued a seven year guaranteed corporate bond of VND 660 billion due in 2025. GuarantCo is also supporting affordable housing projects in India and Nigeria with a number of others in the pipeline.The development of the affordable housing industry in Vietnam is something that is very close to our hearts and we are excited to find a partner in GuarantCo on our first guaranteed local currency bond issue, said Steven Chu, CEO of Nam Long Investment Corporation. We are able to garner strong participation from reputable and well-recognised investors at a competitive long-term fixed interest rate which enables us to deploy the funds accordingly to finance our capital expenditure and land banking needs to further grow the company.We are proud to collaborate with Nam Long Investment Corporation which, over the years, has been an active real estate developer focused on the affordable housing sector in Vietnam, said Lasitha Perera, CEO of GuarantCo. The bond proceeds will be used primarily towards infrastructure associated with affordable housing and is expected to create peak employment of up to 300 jobs at the construction site. The longer-term goal is to enable Nam Long to provide more supply of affordable housing in Vietnam and to support the development of the local debt capital markets further.