Hong Kong, November 4 – LAWFUEL – The Law News Network – Shearman & Sterling LLP has represented Credit Suisse First Boston as the sole bookrunner in the US$750 million inaugural offering of global US dollar bonds by The Government of the Socialist Republic of Vietnam. The unsecured fixed rate notes are due 2016. Other
syndicate members included Citigroup, Deutsche Bank, HSBC, JP Morgan, Merrill Lynch, Morgan Stanley and Nomura.
This is Vietnam’s first ever international bond offering and marks the country’s foray into the international capital markets. Proceeds raised from the 10-year bond, bumped up from an earlier US$500 million, will go toward investments in various large projects for state-owned Vinashin, Vietnam’s largest shipbuilder, Electricity Vietnam and Vietnam Airlines.
Hong Kong-based capital markets partner Matthew Bersani, also the firm’s Asia Managing Partner, who led the transaction, commented:
“This is a significant step for Vietnam in its market liberalization and economic progression. We are proud to have been involved in this landmark transaction which will hopefully open up the Vietnam market for other complex offerings in the future.”
Other members of the Shearman & Sterling team included Tokyo capital markets associate Robert Ferguson, Hong Kong capital markets associate Jennifer Peng and legal assistant Cora Ang.