The three-year maturity bonds will have a coupon rate of 9.3 percent and 10 percent in the first year. In the remaining years, the floating coupon rate will be the reference rate plus 2.5 percent.

The reference rate refers to the average of the 12-month deposit rates for individuals at BIDV, Vietcombank. VietinBank and Agribank, the four biggest state-owned lenders in Vietnam by assets. The rate is now 6.85 percent.

Half of the moneys raised, VND5 trillion ($215.4 million), will be used to increase the charter capital of its unit, Masan Horizon from the current VND13.74 trillion ($592.07 million).

Masan Horizon owns a majority stake in mining company Masan Resources, which will also receive VND1 trillion ($43.09 million) to repay its debts.

The remaining VND4 trillion ($172.36 million) will be given as a loan for its consumer goods producer, Masan Consumer Holdings, and meat producer MNS Meat Ha Nam.

The bonds issuance came after Masan MSN stocks dropped 20.3 percent to VND55,000 ($2.37) Friday following news that the corporation will take over Vingroup’s retail unit, which is the largest in the country with over 2,600 outlets.

Masan, which produces sauces, beverages, instant noodles and meat, posted a revenue of VND26.38 trillion ($1.14 billion) in the first nine months, down one percent year-on-year.