Vietnam developer seeks first overseas bond sale

Hanoi

FLC GROUP Joint-stock Co billionaire co-founder Trinh Van Quyet is in talks with a consortium of investors for the Vietnamese developer's first overseas bond sale, which may raise as much as US$200 million to fund projects in one of the world's fastest-growing economies.

The sale may take place as early as the first quarter of next year, with proceeds used to fund resorts, apartments and office projects, Mr Quyet said in a phone interview on Thursday, declining to identify potential buyers. Mr Quyet's holdings in FLC and Faros Construction Corp are worth more than US$1 billion, according to data compiled by Bloomberg.