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Vietnam Rubber Corporation issues corporate bond

Vietnam Rubber Corporation on June 30, has issued its corporate bond with total value of VND50 billion ($3.2 million) to mobilize capital for development of rubber production. This is a new step to diversify operation of the corporation, making it to become a large economic group in the country.

The bonds issued this time, bear interest rate of 8.5 percent p.a. without maximum limit for inside buyers.

This year, Vietnam plans to reach rubber out put of 500,000 tons, of which export will be 480,000 tons, an increase of 42,000 tons over 2003. Rubber price now stand at VND22 million per ton as high demand of rubber from China to make tire and tube for various cars.

VNS - (05/07/2004)

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