According to a board resolution released Saturday, the group will offer non-convertible, secured bonds without warrants, priced at VND100 million ($3,791) each.

The notes will carry a maximum maturity of 36 months and will be sold to professional investors under Vietnamese regulations.

Vingroup said the proceeds will be used entirely for debt restructuring, with the timing of the sale dependent on market conditions and regulatory clearance.

The onshore issuance comes as the conglomerate moves forward with plans to tap overseas funding.

Earlier this month, the State Securities Commission confirmed it had received Vingroup’s application to issue up to 1,625 offshore bonds worth a combined $325 million, each with a face value of $200,000.

The proposed five-year notes will be non-convertible and unsecured, with an expected coupon of 5.5% and an option for bondholders to receive shares in Vinpearl JSC (HoSE: VPL), the group’s hospitality arm. They will be listed on the Vienna Stock Exchange and will not be offered in Vietnam.

With the back-to-back fundraising plans, Vingroup is seeking to diversify its capital sources and strengthen its balance sheet heading into the final quarter of 2025.

Earlier this month, Vingroup revealed plans to issue 3.85 billion new shares at a 1-for-1 ratio, doubling its charter capital to more than VND77 trillion ($2.93 billion). The company said the capital expansion underscores its long-term ambitions and will strengthen its financial capacity for future investments.

VIC shares closed up 1.46% to VND243,000 ($9.21) each on Tuesday.