Masan Consumer Holdings (MCH), a wholly-owned subsidiary of Masan GroupCorporation (MSN), has signed agreements to issue five-year bonds worth 9trillion VND (412.8 million USD).

The buyers will be Vietcombankand other local commercial banks. Vietcombank Securities Companyarranged the deal which was inked on June 10, Masan said.

The group said it was the largest-ever private sector corporate bond deal in Vietnam's capital market.

Theproceeds will be used to simplify Masan Group's consolidated balancesheet, including the repayment of existing debts, and reduce its overallexpenditure as market conditions become more favourable.

Inconnection with the transaction, Vietcombank solidified its position asthe priority corporate banking partner for Masan Group'sconsumer-related businesses.

Recently, Masan Group penetratedVietnam's domestic consumption market by establishing MasanNutri-Science, a platform that aims to close the productivity gap in theanimal protein sector between Vietnam and the developed world, startingwith the animal feed sector.

Masan Group is on track to earn 2billion USD in revenue in 2015. Validation of Masan Group's success andstrategy was further provided by global business media company Forbes,which named Masan Group as the 20th most-innovative growth company inthe world in a list of 200 fast-growing companies in 2015. It was theonly Vietnamese company to be mentioned.

MSN shares closed at 80,000 VND (3.7 USD) each on the HCM City Stock Market on June 11.-VNA