The Credit Guarantee and Investment Facility (“CGIF”), a trust fund of the Asian Development Bank (“CGIF”) is pleased to announce its support for an aggregated guaranteed VND 900 billion 7-year dual (fixed and floating rate) tranche amortizing bonds issued by A&A Green Phoenix Group Joint Stock Company (“Phenikaa”) on 14 December 2023. The bonds received overwhelming investor demand from institutional investors in Vietnam and will be registered for trading in Hanoi Stock Exchange (“HNX”).

The Phenikaa group has cemented its position in the global engineered quartz stone market through its VICOSTONE® brand and has since expanded to other businesses such as education, research, technology, and healthcare aiming to achieve synergies from its 3-Centers Ecosystem involving Business – Education and Training – Scientific Research. With CGIF’s guarantee rated AA by S&P, Phenikaa was able to further diversify its funding sources and tap suitable long-term funding to grow its hospital business. This issuance marks the 12th CGIF-guaranteed VND bond and reinforces CGIF’s commitment to advance the development of the bond market in Vietnam as well as in ASEAN+3 region.