Vietnam real estate firm Crytal raises VND2 trillion in first corporate bond

Crytal Infrastructure Co., a Hanoi‑based real‑estate developer founded in June 2025, completed its inaugural corporate bond issuance on 16‑17 July 2026. The company placed 20,000 bonds worth VND100 million each, raising a total of VND2 trillion (about $85 million). The five‑year notes, identified as CIC12601, mature on 16 July 2031.

The bond carries a minimum interest rate of 12.5 % per annum for the first two interest periods. Thereafter, the rate is set at the average 12‑month savings rate of three state banks plus 4 percentage points, but never below the 12.5 % floor. The issuance is non‑convertible, non‑warranted and secured. It marks Crytal’s first foray into the corporate bond market despite the firm being just over a year old, reflecting strong capital‑raising demand for its real‑estate projects.

Crytal’s charter capital stands at VND2.8 trillion, and the bond was underwritten and cleared by Smartmind Securities. The successful placement demonstrates the growing appeal of high‑yield corporate bonds in Vietnam’s domestic capital market.