Vinacomin drops bond plan amid government support fears
State-owned Vietnam National Coal-Mineral Industry (Vinacomin) has become the third issuer in the last two weeks to postpone a planned bond deal. The company was forced to the abandon its plan to raise as much as $500m after doubts grew over the Vietnamese government’s willingness to support state-owned companies.
The company cancelled its plan to sell a $300m-$500m 10 year bond in late US trading on Monday. It followed similar moves from Indonesian power company Energi Mega Persada and Chinese property developer Yuzhou Properties last week but some bankers had been optimistic the deal would be
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