Vietnamese information technology ( IT ) company CMC Corporation debuted in the domestic currency bond market on the back of a guarantee provided by Credit Guarantee and Investment Facility ( CGIF ), a trust fund of the Asian Development Bank.

The 10-year 1.25 trillion dong ( US$47.5 million ) fixed-rate amortizing offering, announced on October 30, was issued with a coupon rate of 5.50% per annum. The deal was two times oversubscribed, indicating strong investor demand.

The bond represents a significant milestone in CMC’s financing strategy as it diversifies its funding sources and secures long-term financing for its strategic projects. The proceeds will be used to finance the construction and development of the CMC Creative Spaces Hanoi ( CCS Hanoi ) project, which is comprised of a data centre and office building, as well as support Vietnam’s digital infrastructure development.

BNP Paribas was the financial adviser for the transaction, while VietinBank Securities acted as the bond issuance agent.

The CGIF guarantee enables the company, says Nguyen Trung Chinhm, CMC’s chairman, to access long-term Vietnamese dong funding and diversifies its investor base. The CCS Hanoi project, Nguyen adds, is designed to meet rising client demand for secure, reliable digital infrastructure and large-scale artificial intelligence ( AI ) computing. It will also serve as the foundation for CMC to deliver cloud/AI-as-a-service, driving AI transformation for enterprises and institutions, and making a concrete contribution to Vietnam’s digital economy.

The transaction underscores CGIF’s commitment, notes Hongwei Wang, the fund’s CEO, to support Vietnam’s digital transformation and the development of its local currency bond market. “This issuance enabled CMC to access a new and diversified investor base,” he points out, “and secures long-term financing for its strategic projects in the sector.”

In addition to Vietnam, CMC has a presence in over 30 international markets. Since its founding in 1993, the company has become a key driver of Vietnam’s digital economy, focusing its strategy on AI and digital transformation. It operates in four key business areas: technology and solutions, digital infrastructure ( telecoms ), global business ( IT outsourcing ), and research and education.

CMC is the second-largest IT company in Vietnam with over 5,000 employees.