The first tranche will have a face value of VND1 trillion ($38.3 million), with each bond carrying a face value of VND100 million ($3,830). The second tranche will have a maximum face value of VND2 trillion ($76.61 million), with the same denomination.

Both tranches will be non-convertible, without warrants and secured by assets, with interest rates combining fixed and floating components. The bonds will be issued through an issuance agent in book-entry and/or electronic form.

The bonds will have a 24-month maturity, with proceeds earmarked for the company's investment projects. Collateral will comprise assets legally owned by Vinhomes and/or third parties.

Data from the Hanoi Stock Exchange showed Vinhomes has issued 15 privately placed bond tranches since early 2026. Most recently, Vinhomes issued 20,000 bonds worth VND2 trillion ($76.61 million) on August 6 under the code VHM12615. The three-year bonds mature on August 6, 2029, and carry an annual coupon of 12.5%.

The latest fundraising plans follow Vinhomes's completion of a large stock dividend earlier this month.

On August 7, the company completed the issuance of more than 4.1 billion new shares to 34,021 shareholders at a 1:1 ratio. Shareholders received one new share for each existing share, with the shares funded from retained earnings accumulated through December 31, 2025.

Following the issuance, Vinhomes's charter capital doubled to more than VND82.15 trillion ($3.15 billion) from VND41.07 trillion ($1.57 billion).

Vinhomes profit surges on property transfers

Vinhomes's fundraising comes as the developer reports strong business growth in the first half of 2026.

The company posted consolidated net revenue of VND52.72 trillion ($2.02 billion) in the second quarter, nearly 2.9 times higher than a year earlier. Real estate transfers were the main growth driver, generating VND39.55 trillion ($1.52 billion) in revenue, about four times the level recorded in the same period last year.

Financial expenses rose 53.8% to VND5.29 trillion ($202.82 million), mainly due to interest and bond issuance costs. Selling expenses more than doubled to VND482 billion ($18.47 million), while administrative expenses fell nearly 40% to VND570 billion ($21.84 million).

Vinhomes reported VND26.47 trillion ($1.01 billion) in net profit for the quarter, up 3.22 times from a year earlier.

For the first six months, revenue reached VND116.57 trillion ($4.47 billion), while net profit stood at VND52.09 trillion ($2 billion), up 3.43 times and 4.79 times year-on-year, respectively. Based on its H1 results, the company had achieved about 40.9% of the year's revenue target and 86.8% of its net profit aim.