Vietnam's Bac A Bank raises $60M in Tier 2 bonds, retires debt early
What's the deal? Bac A Commercial Joint Stock BankDealroom has a profile for this one. Try Dealroom → (BAB) is raising nearly 1,564.9 billion dong (about $60 million) through a public bond offering to boost its Tier 2 capital. It is distributing more than 15.6 million non-convertible, unsecured bonds priced at 100,000 dong each, with a seven-year maturity and annual interest.
Why now? Days before opening the new offering, the bank spent 1 trillion dong to repurchase a 2025 bond issue two years ahead of its 2028 maturity. It bought back all 1,000 bonds at 1.058 billion dong each on September 17, 2026, letting it restructure capital more flexibly.
The details: The registration and payment window runs from September 21 to October 12, 2026. Individual investors must subscribe to at least 500 bonds; institutions to at least 1,000.
What's the endgame? The bank said the proceeds will expand operations, fund loans to the economy, increase Tier 2 capital, and help it meet the State Bank of Vietnam's operational safety ratios.
The signal: The raise sits in the smaller tier of deals tracked in our database, but the paired move — retiring old debt early while issuing fresh subordinated bonds — points to active balance-sheet management as Vietnamese lenders shore up regulatory capital buffers.
Read more: vietnam.vn
