August 22, 2022

World Bank's International Finance Corp to buy US$25.6 million worth of bond from Vietnamese pork producer

The World Bank's International Finance Corp will buy ₫600 billion ($25.6 million) worth of convertible bond to be issued by Vietnamese pork producer and feed mill operator BaF.

The private placement is expected to be done during this half to fund the expansion of BaF's farm and food businesses.

"With Vietnam's pork sector severely impacted by African swine fever, BaF's expansion is expected to contribute to a recovery of pork supply as well as an improvement in biosecurity across Vietnam," the IFC stated.

The bond has a seven-year term and a coupon rate of 5.25%. The conversion price will depend on the exchange rate at the time of maturity.

BaF said it would use the proceeds to expand its pig farms and increase its working capital. It hopes to increase the number of pig farms from its current 15 to 40 by 2025.

- VnExpress International