Heard from the Grapevine

Market rumours have suggested that STX Pan Ocean has successfully issued unsecured KRW 150 billion (USD 100 million) straight bonds domestically. The 18 month bonds carry a fixed interest rate of 8.2 percent, payable every quarter.

In Vietnam, the government has granted approval for the state-owned Vietnam Shipbuilding Industry Group (Vinashin) to issue VND 3 trillion (USD 171.6 million) of local bonds and USD 400 million dollar denominated bonds. Vinashin has reportedly started discussions with rating companies including Standard & Poor’s in preparation for the bond issue

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